MUMBAI: Shares of Raymond rallied more than 17 per cent on Friday after the textile major said it will demerge the real estate business to unlock the value for shareholders and harness growth potential in the Indian property market.
The scrip of the company surged 17.30 per cent to trade at Rs3,450.95 apiece on the BSE.
On the NSE, Raymond shares soared 16.83 per cent to trade at Rs3,434.75 per piece.
In the intra-day trade, the stock of Raymond hit its 52-week high of Rs3,480.35 and Rs3,484 on the BSE and NSE.
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