India's Raymond Lifestyle rises as Motilal Oswal starts with 'buy'

Raymond Lifestyle

21/10/2024 08:10

** Shares of India's Raymond Lifestyle  RAYL.NS  rise 3% to
2,433 rupees
    ** Motilal Oswal starts with 'buy' and TP of 3,200 rupees,
indicating a ~32% upside to last close
    ** Brokerage expects RAYL's growth to be fueled by rapid
expansion in branded apparel; launch of new categories
(innerwear, sleepwear) to contribute
    ** Expects India's garment industry to benefit from recent
Bangladesh turmoil and global move to a China +1 strategy
    ** Says Raymond, with over 95% of garments in B2B exports,
well-positioned to benefit from any shift away from Bangladesh
    ** Stock down 17.7% so far since listing in Sept this year

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com;))