logo
Raymond shares hit 5% upper circuit after Dalal Street prices in realty demerger

Raymond shares hit 5% upper circuit after Dalal Street prices in realty demerger

Economic Times15-05-2025

Raymond shares surged 5% after completing the demerger of Raymond Realty, enabling direct investor participation in its real estate business. The newly independent unit, with Rs 40,000 crore potential revenue, is set to list by Q2 FY26.
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Shares of Raymond Ltd hit the 5% upper circuit at Rs 584.25 on the BSE Thursday, gaining sharply after the company concluded the demerger of its real estate arm, Raymond Realty , as part of a broader strategy to unlock value through standalone verticals.The surge follows the completion of the demerger on May 1 and the record date on Wednesday, May 14, which determined eligible shareholders who will receive one share in Raymond Realty for every share held in Raymond Ltd. The newly carved-out entity is expected to list separately on the NSE and BSE by the September quarter of FY26.'We are delighted to announce the successful demerger… This strategic move emphasizes our commitment to drive sustainable growth via pure play business,' said Chairman and Managing Director Gautam Hari Singhania.Realty arm steps out with strong metricsRaymond Realty, which has built a growing footprint in the Mumbai Metropolitan Region , exits the Raymond Ltd umbrella with a net cash surplus of Rs 399 crore. In the March quarter (Q4FY25), the business posted revenue of Rs 766 crore, up 13% year-on-year, and an EBITDA of Rs 194 crore with a margin of 25.3%.Despite no new project launches in the quarter, Raymond Realty posted a healthy booking value of Rs 636 crore, led by demand for projects like The Address by GS 2.0, Invictus, and Park Avenue – High Street Retail in Thane, as well as The Address by GS in Bandra.The realty unit is aggressively expanding its presence in the Mumbai Metropolitan Region through joint development agreements. In Q4FY25, it signed new JDAs in Mahim and Wadala, adding Rs 6,800 crore to its potential gross development value.'With these additions the total potential revenue from our current Real Estate Business is now close to Rs 40,000 crore, which includes Rs 25,000 crore from our Thane Land parcel and Rs 14,000 crore from JDA led model,' the company said.The listing of Raymond Realty will allow shareholders to directly participate in the real estate business while Raymond Ltd continues to operate its engineering and other legacy businesses. The demerger mirrors the September 2024 spin-off of Raymond group's lifestyle unit and is part of a wider effort to restructure the conglomerate into focused, independently run verticals.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

'Why do I need RCB? I don't even drink Royal Challenge': Karnataka Deputy CM's epic take on rumours of buying franchise
'Why do I need RCB? I don't even drink Royal Challenge': Karnataka Deputy CM's epic take on rumours of buying franchise

Hindustan Times

time15 minutes ago

  • Hindustan Times

'Why do I need RCB? I don't even drink Royal Challenge': Karnataka Deputy CM's epic take on rumours of buying franchise

Karnataka Deputy CM DK Shivakumar on Wednesday shut down rumours about him buying the Royal Challengers Bengaluru (RCB) franchise in epic fashion. His statement came a day after RCB owners, Diageo India — the Indian arm of UK-based Diageo Plc — responded to speculation that part or all of the IPL franchise was up for sale "I am not a mad man. I'm just a member of the Karnataka Cricket Association from my younger days, that's all. I don't have time, though I had offers to be part of the management... Why do I need RCB? I don't even drink Royal Challenge," Shivakumar told news agency ANI. Earlier this week, a Bloomberg report said that the British distiller was in discussion with potential advisers on selling the club. Diageo owns the team through its Indian unit, United Spirits Ltd., and may seek a valuation of as much as $2 billion. Following the rumours, the shares of United Spirits, registered with the Bombay Stock Exchange (BSE), gained a 3.3 per cent increase in its price, this hitting a five-month high on Tuesday morning. This forced the BSE to sent out a mail to Diageo, who then responded saying the reports were merely speculative in nature. Mital Sanghvi, the company secretary, informed the regulating body of the Indian Stock Market on the mail saying, "The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion. This is for your information and records."

Volumes soar at Tata Teleservices (Maharashtra) Ltd counter
Volumes soar at Tata Teleservices (Maharashtra) Ltd counter

Business Standard

time15 minutes ago

  • Business Standard

Volumes soar at Tata Teleservices (Maharashtra) Ltd counter

Tata Teleservices (Maharashtra) Ltd recorded volume of 1182.55 lakh shares by 14:14 IST on NSE, a 15.34 times surge over two-week average daily volume of 77.11 lakh shares RattanIndia Enterprises Ltd, Wockhardt Ltd, United Spirits Ltd, NMDC Steel Ltd are among the other stocks to see a surge in volumes on NSE today, 11 June 2025. Tata Teleservices (Maharashtra) Ltd recorded volume of 1182.55 lakh shares by 14:14 IST on NSE, a 15.34 times surge over two-week average daily volume of 77.11 lakh shares. The stock gained 9.30% to Rs.78.14. Volumes stood at 43.08 lakh shares in the last session. RattanIndia Enterprises Ltd saw volume of 1242.69 lakh shares by 14:14 IST on NSE, a 11.55 fold spurt over two-week average daily volume of 107.55 lakh shares. The stock increased 9.84% to Rs.64.75. Volumes stood at 675.15 lakh shares in the last session. Wockhardt Ltd recorded volume of 63.1 lakh shares by 14:14 IST on NSE, a 7.05 times surge over two-week average daily volume of 8.95 lakh shares. The stock gained 16.58% to Rs.1,803.10. Volumes stood at 5.46 lakh shares in the last session. United Spirits Ltd saw volume of 84.72 lakh shares by 14:14 IST on NSE, a 6.96 fold spurt over two-week average daily volume of 12.16 lakh shares. The stock dropped 6.76% to Rs.1,501.10. Volumes stood at 10.03 lakh shares in the last session. NMDC Steel Ltd recorded volume of 223.08 lakh shares by 14:14 IST on NSE, a 6.7 times surge over two-week average daily volume of 33.29 lakh shares. The stock gained 1.88% to Rs.40.65. Volumes stood at 39.8 lakh shares in the last session.

Benchmarks trade with minor gains; oil & gas shares gain
Benchmarks trade with minor gains; oil & gas shares gain

Business Standard

time15 minutes ago

  • Business Standard

Benchmarks trade with minor gains; oil & gas shares gain

The key equity indices witnessed small gains in afternoon trade, lifted by positive global trade developments. Optimism from Asian markets and hopeful signals from US-China trade negotiations in London boosted investor sentiment. The Nifty traded above the 25,100 level. Oil & gas shares advanced after declining in the past trading session. At 14:30 IST, the barometer index, the S&P BSE Sensex, added 122.24 points or 0.15% to 82,513.96. The Nifty 50 index rose 38.10 points or 0.15% to 25,140.30. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.27% and the S&P BSE Small-Cap index fell 0.26%. The market breadth was positive. On the BSE, 2,078 shares rose and 1,916 shares fell. A total of 144 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.10% to 13.72. Buzzing Index: The Nifty Oil & Gas index rose 1.50% to 11,729.25. The index shed 0.08% in the past trading session. Oil India (up 5.74%), Bharat Petroleum Corporation (up 3.91%), Hindustan Petroleum Corporation (up 2.51%), Indian Oil Corporation (up 1.96%), GAIL (India) (up 1.4%), Oil & Natural Gas Corpn (up 1.27%), Reliance Industries (up 0.9%), Mahanagar Gas (up 0.7%), Petronet LNG (up 0.29%) and Gujarat Gas (up 0.29%) advanced. On the other hand, Adani Total Gas (down 2.73%), Castrol India (down 2.67%) and Indraprastha Gas (down 1.43%) edged lower. Numbers to Track: The yield on India's 10-year benchmark federal paper shed 0.19% to 6.275 from the previous close of 6.287. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.5425 compared with its close of 85.5700 during the previous trading session. MCX Gold futures for 5 August 2025 settlement rose 0.47% to Rs 97,356. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 99.01. The United States 10-year bond yield rose 0.25% to 4.484. In the commodities market, Brent crude for August 2025 settlement rose 11 cents or 0.16% to $66.98 a barrel. Stocks in Spotlight: Minda Corporation shed 0.77%. The company announced a joint venture with Japan-based Toyodenso Co. for advanced automotive switches for the Indian market. IIFL Finance rose 0.61%. The companys board has approved raising funds aggregating to Rs 600 crore through non-convertible debentures (NCDs) on a private placement basis.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store