Raymond Realty's Debut Shake-up: From Demerger to Market Debut
Raymond Realty Ltd, part of the Raymond Group, has been listed on stock exchanges following a demerger. Shares fluctuated, opening at Rs 1,005 on BSE and peaking at Rs 1,055.20. The company's market valuation reached Rs 6,407.72 crore as it aims for significant profit margins in future projects.
- Country:
- India
In a significant move following its demerger process, Raymond Realty Ltd made its debut on the stock exchanges on Tuesday. Shares of the company, a key arm of the Raymond Group, commenced trading at Rs 1,005 on the Bombay Stock Exchange (BSE), jumping 4.99% to reach the upper circuit limit of Rs 1,055.20 before closing at Rs 962.50, marking a 4.22% decline.
Similarly, on the National Stock Exchange (NSE), Raymond Realty's stock began at Rs 1,000 and similarly climbed 5% to hit the upper circuit limit at Rs 1,050, before ending the day at Rs 969.20, reflecting a 3% drop. The company's market valuation has been pegged at Rs 6,407.72 crore.
With Raymond Ltd's strategic shift towards focusing on the engineering sector after demerging its lifestyle business, Raymond Realty emerges as a standalone entity in real estate. The company is set to launch projects valued between Rs 6,000 crore to Rs 10,000 crore, prioritizing ventures with a minimum profit margin of 20%.
(With inputs from agencies.)
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