Only buyers were observed in this textile stock which traded at a new 52-week high on December 02
The stock has increased by more than 150 per cent, while the BSE Sensex has increased just by 6.23 per cent on a YTD basis.
Shares of Raymond Ltd closed at Rs 1,591, up by 16.16 per cent. Today the stock traded at its new 52-week high of Rs 1628.70. In addition, the company's stock has risen significantly, hitting 52-week high back-to-back and trading volumes soaring since the beginning of the month.
According to quarterly financial figures, in comparison to Q2FY22, when the net profit was Rs 57.3 crore, it dramatically increased to Rs 156.3 crore or 173 per cent, in Q2FY23. The company also declared a final dividend of Rs 3 per share to its shareholders in FY23. The company reported positive results, translating in a volume spurt of over 12 times today on BSE.
Raymond Limited incorporated in 1925 is a diversified group with interests in the textile & apparel sectors as well as a presence across diverse segments such as real estate, FMCG and engineering in national and international markets. It is one of the largest vertically and horizontally integrated manufacturers of worsted suiting fabric in the world.
The company's present PE and ROE are 14.5 per cent and 16.2 per cent, respectively. The stock has increased by more than 150 per cent, while the BSE Sensex has increased just by 6.23 per cent on a YTD basis. Investors must keep an eye on this stock.