Raymond sizzles on expansion reports
DSIJ Intelligence / 28 Jun 2017
According to leading national news agency the company announced that it will be investing Rs 1,400 crore in Amravati plant and that it will open 300 stores in 2 years.
Raymond share price advanced on Wednesday by 2.25 per cent and is trading at Rs 715 per share in the opening hour of the market even as the broader market is reeling under pressure and is trading in red.
According to leading national news agency the company announced that it will be investing Rs 1,400 crore in Amravati plant and that it will open 300 stores in 2 years.
Revealing further details to the news agency Raymond boss Gautam Singhania said that the firm’s new plant in Amravati will be most probably commissioned by year-end.
The new facility is expected to help meet demands of the company that is embarking on retail expansion across India. Raymond plans to open 300 new stores slated to open in next two years. As of now Raymond has 1,100 outlets in about 450 cities.
Over one year period Raymond has delivered 52.26 per cent returns whereas the benchmark index BSE 500 has managed to gain 21.79 per cent in one year.
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