India's Raymond hits record high on bets of strong revenue, EBITDA growth

Raymond

10/07/2023 07:17

** Shares of Raymond Ltd  RYMD.NS  up as much as 5.98% at
record high of 1852.15 rupees 
    ** Stock logs highest intraday pct gain since April 27, on
track for second consecutive session of gains if trends hold 
     ** RYMD's success in expanding branded apparel revenue and
evaluation of ongoing real estate projects key catalysts for
co's re-rating - Antique Stock Broking 
    ** Adds, lifestyle business has potential to grow at 12-13%
CAGR over 4-5 years with 15-16% EBITDA  
    ** Branded apparels could double over 4-5 years on store
expansion and ramp-up of ethnic business - brokerage  
    ** About 498,351 shares change hands as of 11:32 a.m. IST,
2.5x 30-day average 
    ** Stock up ~19% this year, as of last close
 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))