Raymond stock slips after 52-week high before private placement EGM
Raymond's stock just slipped over 3%, right after hitting a fresh 52-week high of ₹1,195.30.
Even with this dip, the stock has been on fire, up 10% in the last week and an impressive 214% over six months.
Now, all eyes are on Raymond's upcoming EGM (that's an extraordinary general meeting) on October 3, where plans for raising funds through private placement will be up for discussion.
Raymond lands ₹33cr aerospace order
A big reason behind Raymond's recent surge? Its Aerospace and Defense division. They landed a ₹33 crore order from an Indian aerospace and defense major, with production set to kick off between 2026 and 2027.
Revenue from this segment jumped by over 40% recently, reaching ₹123 crore in Q1 FY27.
To keep up the momentum, Raymond is also planning to issue new convertible warrants at ₹645 each.
With India's defense sector booming, investors are watching closely to see how these moves (and the EGM decisions) could shape Raymond's future.