Raymond share price rises 8% on the listing day of Raymond Realty shares
Raymond share price opened at ₹ 717 levels on the BSE on Tuesday. At the time of opening, the Raymond share was trading more than 1% higher than the previous session's closing price of ₹ 708.80. Raymond share price thereafter gained further to touch intraday highs of ₹ 771.40, which meant gains of more than 8% for Raymond share price during the morning trades.
Raymond share price has been rising for the past few days ahead of Raymond Realty shares listing. Raymond share price has seen gains of around 25% during the last few days ahead of Raymond Realty's eagerly anticipated listing.
The demerger and listing of Raymond Realty shares is the key trigger that has been driving Raymond share price.
For Raymond Ltd, growth engine now has a second independent lever thanks to the demerger and listing of Raymond Realty. Raymond already had a successful demerger and listing of Lifestyle Business, with the listing of Raymond Lifestyle shares.
'Raymond Realty stands as the crown jewel of our transformation—a net debt-free, pure-play real estate entity that has rapidly ascended to become one of the Top 5 developers in the Mumbai Metropolitan Region (MMR), demonstrating our ability to execute at scale in India's most competitive real estate market.' as per Raymond Ltd
Going forward, with a significant development pipeline, Raymond Realty is perfectly positioned to tap into India's urban renaissance, as per Raymond.
Raymond Realty shares listed at ₹ 1055.20 levels on the BSE and the ₹ 1000 level on the NSE on Tuesday.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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