India's Raymond gains as independent directors promise to protect investors

Raymond

01/12/2023 07:40

** Shares of Indian textile co Raymond  RYMD.NS  rise 3% to
1,551.75 rupees
    ** Co's independent directors said on Friday they will take
measures, if needed, to protect business, stakeholder interests
from marital disputes between MD, wife
    ** Shares snap 12-day losing streak, in which they fell more
than 21% 
    ** Share slump started on Nov. 13, when MD announced
separation from his wife on social media platform X, formerly
known as Twitter
    ** About 1.7 mln shares change hands, 5.5x 30-day avg; see
best volumes since Sept. 5
    ** Shares up over 5% so far this year

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))