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Raymond Shares Soar 10% to 52-Week High; Up 200% in Six Months
M
Moneycontrol•22-09-2026, 14:51
Raymond Shares Soar 10% to 52-Week High; Up 200% in Six Months
- •Raymond shares surged 10% to hit a new 52-week high of Rs 1,193.40 per share on the NSE during Tuesday's trading session.
- •The stock briefly touched its upper circuit limit before some profit booking occurred, settling at Rs 1,132.20, up 4.36%.
- •The rally precedes an Extraordinary General Meeting (EGM) on October 3 to consider key proposals, including a preferential issue of securities.
- •Raymond plans to raise funds by allotting 33.28 lakh convertible warrants at Rs 645 each to Minerva Ventures Fund via private placement.
- •The company's shares have seen a remarkable increase of 204.28% over the last six months.
Key Questions Answered
Raymond shares rallied and hit a fresh 52-week high of Rs 1,193.40 per share ahead of its upcoming Extraordinary General Meeting scheduled for Saturday, October 3, which is set to approve key fundraising proposals.
Raymond plans to raise approximately Rs 214.71 crore through the preferential allotment of 33.28 lakh convertible warrants at an issue price of Rs 645 per warrant.
The convertible warrants are proposed to be issued and allotted on a private placement basis to Minerva Ventures Fund.
