India's Raymond climbs after board nod to demerge realty arm

Raymond

05/07/2024 05:04

** Shares of India's Raymond  RYMD.NS  up 4%; rose as much
as 7.1% earlier in the day 
    ** Co's board approved demerger of its realty business, said
Raymond Realty Ltd will operate as separate listed entity 
    ** Stock set to snap three-session losing run, if gains hold
 
    ** Trading vols 1.2x 30-day avg in early trade
    ** YTD stock has surged ~76% 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))