Raymond Shares Fall Over 3% After Hitting 52-Week High; Stock Still Up 214% in Six Months

The share price of Raymond fell more than 3% on September 23rd, which was after the stock hit its new 52-week high. 

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The stock fell by up to 3.4% on the Bombay Stock Exchange to ₹1,075.10. In the previous trading session, it had reached its 52-week high at ₹1,195.30. 

Even after Wednesday’s decline, Raymond remains sharply higher across several time periods. The stock has gained 10% in one week, 70% in a month and 84% over three months. Its six-month gain stands at 214%, while the stock is up 74% over the past year. 

Recent activity around the company has included an expansion of its aerospace and defence operations. 

Raymond’s subsidiary, JK Maini Global Aerospace, recently emerged successful in a tender from a leading Indian aerospace and defence original equipment manufacturer. 

Under the proposed programme, the company will assemble wing structures and centre fuselage structures for a major indigenous fighter aircraft. The project takes Raymond’s aerospace business beyond precision manufacturing and into aircraft-structure assemblies. 

The programme is expected to use the customer’s existing infrastructure. 

Raymond’s Engineering vertical currently includes Aerospace and Defence & Tools, along with Auto Components. The aerospace and defence business has expanded following the acquisition of Maini Precision Products. 

Another event on the calendar is Raymond’s Extraordinary General Meeting scheduled for October 3. 

Among the proposals expected to be considered is a preferential issue of securities through private placement. 

Earlier in September, Raymond announced plans to issue 33.28 lakh convertible warrants at ₹645 each to Minerva Ventures Fund through a private placement. 

The company’s June-quarter numbers also showed a sequential improvement in profit. 

Raymond reported a net profit of ₹21 crore in Q1 FY27, up from ₹1.13 crore in the March quarter, an increase of 1,758%. 

Revenue edged up 0.4% quarter-on-quarter to ₹606 crore from ₹603 crore. EBITDA rose 2.4% to ₹77.3 crore from ₹75.5 crore, while the EBITDA margin improved to 12.8% from 12.5%. 

Raymond attributed the quarterly performance to its Aerospace & Defence and Precision Technology & Auto Components divisions. The Precision Technology & Auto Components business also recorded export growth in critical components for the hybrid segment.