Shares of Raymond Limited have been witnessing an uptick in momentum for the past few sessions. Continuing the upward momentum amid sustained buying interest, Raymond Limited stock rose over 10 per cent in intraday trade on Tuesday to hit a fresh 52-week high at Rs 869.05 on BSE. Last seen, the stock was trading at Rs 853.95, up 10.50 per cent or Rs 81.15 from the last closing of Rs 772.80.
With Today's Rally, the Raymond Limited stock was trading 171 per cent higher from its 52-week low level of Rs 320.40 on BSE.
Share Price History: 100% Rally YTD
The Raymond Group stock doubled investors' money this year to date (YTD), rising 100 per cent--as per BSE data till 1:00 PM on Tuesday. In the last six months, the stock rose over 130 per cent, while in a month the Raymond shares escalated over 35 per cent. Meanwhile, in the last five trading sessions, the stock climbed over 33 per cent.
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Timeframe | Performance Increase |
|---|---|
YTD | 100% |
Last 6 Months | Over 130% |
Last 1 Month | Over 35% |
Last 5 Trading Sessions | Over 33% |
Why are Raymond Ltd.'s shares surging?
Defence and aerospace orders
Raymond has always been known as a fabric manufacturer since the company came into existence. However, after the recent demerger of its lifestyle and real estate businesses, Raymond shifted its focus to an aerospace, precision technology, and automotive components platform.
It has also acquired Maini Precision Products Limited (MPPL), and with this, Raymond's engineering business has forayed into the aerospace & Defence & EV components sectors.
Through JK Maini Global Aerospace, Raymond manufactures complex aircraft-engine components for more than 25 customers worldwide.
The company’s revenue through these new businesses grew as well, with Q1 FY27 aerospace revenue increasing 40 per cent year on year to RS 123 crore.
Raymond posted an order book of over Rs 5,960 crore for the next ten-year
Raymond has also said that it has secured its first build-to-specification order from a leading defence-aerospace OEM.
Disclaimer: This story is for informational purposes only. It should not be construed as investment advice.
