India's Raymond hits record high after reports of deal with Godrej Consumer

Raymond

27/04/2023 06:52

** Shares of textile firm Raymond Ltd  RYMD.NS  surge as
much as 8.94% to a record high 1756 rupees
    ** Rise after multiple media reports stating consumer goods
firm Godrej Consumer Products Ltd   GOCP.NS  is in advanced
talks for a deal with RYMD for its consumer care business
 urn:newsml:reuters.com:*:nL4N36T4TD
    ** Shares of GOCP fall over 3%
    ** A deal is likely to be announced on April 27, reports
said citing sources and added that the acquisition will cost 10
bln rupees to 12 bln rupees for GOCP
    ** The companies did not immediately respond to Reuters'
requests for comment
    ** RYMD's shares are most active in over four months since
Dec. 16, with a trading volume of 2.41 mln shares as of 11:15
p.m. IST, nearly six times the 30-day avg - Refinitiv data
    




 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))