India's Raymond falls as Jefferies drops coverage after business restructuring
09/09/2026 06:34
BUZZ-India's Raymond falls as Jefferies drops coverage after business restructuring ** Engineering firm Raymond's RYMD.NS shares fall 5.8% to 806.8 rupees
** Brokerage Jefferies drops coverage of co
** Says coverage dropped due to the corporate restructuring and change in business profile
** Raymond's business profile changed significantly after demerging its lifestyle and realty units; the company is now largely focused on engineering businesses
** Demerger happened over last two years
** Jefferies' last rating on stock was "buy"
** RYMD trades at forward 12 month PE of 45.64 vs industry median of 25.99 - data compiled by LSEG
** YTD, stock up 89.1%
(Reporting by Abhinav Parmar in Bengaluru)
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