Raymond Limited share price extended its upward rally for second consecutive session on Tuesday. The stock surged over 9% to hit 52-week high of ₹1,193.40 on NSE in Tuesday’s trading session.
Raymond Limited shares opened at ₹1,090 apiece today, as compared to previous close of ₹1,084.95 on Monday. The stock rallied over 10% on 21 September.
What’s behind the rally?
The recent rally in Raymond Limited shares comes ahead of the company’s Extraordinary General Meeting (EGM), scheduled for Saturday, October 2. The meeting is expected to consider and approve key proposals, including the preferential issue of securities through a private placement.
According to a BSE filing, Raymond Limited plans to raise funds through the preferential allotment of 33.28 lakh convertible warrants. The warrants are proposed to be issued at ₹645 per warrant and will be allotted on a private placement basis to Minerva Ventures Fund.
Investor interest in the stock has also been supported by fresh business wins. Raymond Limited’s aerospace division has secured multi-programme orders from an Indian aerospace and defence major. Valued at ₹33 crore, the orders cover machining, aerospace castings, structural components and complex assemblies. According to the company’s latest BSE filing, production under these orders is expected to commence in phases during 2026 and 2027.
According to Harshal Dasani, Business Head, INVasset PMS, the rally appears to have been driven by three visible triggers, along with one factor that is unrelated. On September 8, the board approved the issue of 33.29 lakh convertible warrants to Minerva Ventures Fund at ₹645 apiece, potentially raising up to ₹214.71 crore. Following the announcement, the stock gained 33% over the next four sessions. On September 11, the stock surged 20% on a volume of 11.72 million shares, equivalent to around 17.6% of the company’s total equity changing hands in a single session. Delivery volumes were also 169% above the five-day average.
Dasani further added that another catalyst was the aerospace contract announced on September 1, worth around ₹33 crore annually and covering more than 300 part types for an Indian defence major. While relatively modest in monetary terms, the order provides validation
Raymond Limited share price trend
Raymond Limited shares have delivered a strong performance in the near term, gaining 13.86% over the past week. The stock has also witnessed a sharp rally over the last month, rising 76.31%.
On a year-to-date basis, the stock has given multibagger returns by surging 166.44%, while the stock has advanced 83.31% over the past one year.
Over a longer horizon, the stock has delivered mixed returns. Raymond shares have declined 38.31% over three years, while the five-year return stands at a robust 160.41%.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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