India's Raymond Lifestyle rises as Motilal highlights robust wedding wear demand

Raymond Lifestyle

26/12/2024 08:42

** Shares of Raymond Lifestyle Ltd  RAYL.NS  rise 1.6% to 
2,045.80 rupees
    ** Motilal Oswal maintains "buy" rating on apparel maker as
well as St-high PT of 3,000 rupees
    ** RAYL rose as much as 3.7% earlier in session
    ** Brokerage says RAYL is benefiting from demand for
clothing in wedding season
    ** An extended wedding season should ensure robust demand
momentum, placing RAYL in a "sweet spot" as its wedding
portfolio forms 35%-40% of rev - Motilal
    ** While co targets 12%-14% rev growth in medium term,
brokerage expects 9%-11% revenue CAGR from FY24-27, citing
strong affinity to 'Raymond' brand
    ** Both analysts tracking stock rate it "strong buy" - LSEG
data
    ** Since listing in early September, RAYL down 32.3%


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))