Page 2 - Raymond

Raymond appoints Sunil Kataria as CEO of Lifestyle Business

Leading textile and apparels firm Raymond on Wednesday said it has appointed Sunil Kataria as the CEO of its lifestyle business. The Mumbai-based company said it has strengthened its leadership team by on-boarding the seasoned professional reckoned for leading large-scale business transformations and creating strong consumer brands in India and Southeast Asia. In his new role, Kataria will be responsible for steering the next phase of growth by driving the digital agenda and strengthening the brand's presence in domestic and international markets. "At Raymond, we believe in having industry's finest talent that resonates with our vision to create a future ready organisation. During the last few years, we have been making stronger strides and creating brands and retail experiences for our loyal and new-age consumers," Raymond Chairman & Managing Director Gautam Hari Singhania said in a regulatory filing. The Lifestyle Business is the flagship vertical of Raymond Group which ...

JK Files & Engineering, Elin Electronics get Sebi's go ahead to float IPOs

Raymond-promoted JK Files & Engineering and Elin Electronics have received capital markets regulator Sebi's go ahead to raise funds through their initial public offerings (IPOs). JK Files & Engineering and Elin Electronics are looking to raise Rs 800 crore and Rs 760 crore, respectively, through initial share sales. The companies, which filed their IPO preliminary papers with Sebi between November and December 2021, obtained regulator's observation letter on February 23, latest update with Sebi showed on Monday. In Sebi's parlance, its observation implies green signal to launch an IPO. Going by the draft papers, JK Files & Engineering's public issue is entirely an offer of sale (OFS) of equity shares of Rs 800 crore by promoter Raymond Ltd. At present, Raymond, the country's leading player in suiting and shirting, holds 100 per cent stake in the company. JK Files & Engineering is engaged in the manufacturing of precision engineered components for tools and hardware ...

Here's why Vinay Rajani of HDFC Securities recommends buying Raymond, NIIT

The technical analyst expects the overall trend for the market to remain choppy, with the NSE Nifty likely to face resistance around 17,639 and 17,794.

Raymond Q3 net profit at Rs 101.07 crore, income rises 48.25%

Raymond Ltd on Tuesday reported a multifold jump in its net profit to Rs 101.07 crore for the third quarter ended in December 2021. The company had posted a net profit of Rs 22.18 crore during the October-December of the previous fiscal, Raymond said in a regulatory filing. Its revenue from operations was up 48.25 per cent to Rs 1,843.39 crore during the quarter under review as against Rs 1,243.44 crore in the corresponding period of the previous fiscal. According to the company, it has reported "highest profitable quarter in last 10 years" and its revenue is now "100 per cent of pre-Covid levels". Commenting on the result, Raymond Chairman & Managing Director Gautam Hari Singhania said: "With our focused approach on capitalizing on the growing demand for our products and continued cost optimization, we delivered record profitability. We generated free cash flows to reduce debt and are progressing towards being a net debt free business." Raymond's total expenses were at Rs ...

Textile and apparels firm Raymond incorporates new firm for real estate biz

TXRL has been incorporated with the object to undertake real estate business, Raymond said

Fabric-maker Raymond to raise Rs 100 cr through non-convertible debentures

The company's board is meeting on December 17 to consider and approve the NCDs

Raymond-owned JK Files & Engineering files paperwork for Rs 800-cr IPO

JK Files & Engineering Ltd, a company that is in the business of auto parts, has filed preliminary documents with markets regulator Sebi to raise Rs 800 crore through an initial public offering (IPO). The public issue is entirely an offer of sale (OFS) of equity shares to the tune of Rs 800 crore by promoter Raymond Ltd, according to the draft red herring prospectus filed on Wednesday. At present, Raymond, the country's leading player in suiting and shirting, holds 100 per cent stake in the company. Since the public issue is completely an OFS, the company will not receive any funds raised from the IPO. The company is engaged in the manufacturing of precision engineered components for tools and hardware (files and drills) and marketing of hand tools, power tool accessories and power tool machines and manufacturing of auto components and engineering products -- RNG gears, flexplates and water pump bearings. JK Files & Engineering posted a consolidated profit of Rs 25.46 crore ..

Stocks to Watch: NDTV, RIL, Raymond, Hero Moto, Nykaa, Federal Bank

Weekly futures & options expiry and news related to Omicron could sway the market movement

Raymond's board approves JK Files & Engineering's Rs 800-crore IPO

Diversified group Raymond Ltd on Wednesday said its board has approved the listing of its subsidiary JK Files & Engineering Ltd (JKFEL), a company that is in the business of auto parts. The initial public offering (IPO) will also comprise an offer-for-sale (OFS) of Rs 800 crore, said the country's leading fabric and apparel manufacturer Raymond in a statement. Moreover, the IPO will not have any fresh issuance of shares and will be undertaken subject to requisite regulatory approvals and market conditions, it added. "We hereby inform that the board of directors of JKFEL, a wholly-owned material subsidiary of Raymond Ltd at its meeting held on November 30, 2021, approved an IPO comprising of an OFS for Rs 800 crore, subject to such variation as permitted under applicable law," it said. It further said that in this regard, the company's board of directors, at its meeting held on Wednesday, approved the OFS for Rs 800 crore, subject to such variation as permitted under applicable law

Raymond zooms 13% to a new 52-week high; stock up 33% in one week

Raymond convened shareholders meeting on December 27, 2021 to approve the scheme of arrangement of Raymond Apparel (demerged company) and Raymond (resulting company) their respective shareholders

Raymond, ONGC, IOB: 5 stocks which should not be ignored today

Shares of Raymond Ltd and IOB are showing extreme bullish outlook on the charts

Raymond rallies 14%, hits 21-month high on heavy volumes

According to media reports, the Raymond Group is working toward re-organising its businesses into five core revenue streams, deploying professional boards to raise growth capital in the future

Sensex recoups 622-pt loss, ends 410 pts down; IT stocks worst hit

Negative global market cues and profit taking pushed both Sensex and Nifty lower for the first time in four days

Stocks to watch: HDFC Bank, RIL, RBL Bank, Adani Enterprises, Raymond

Realty firm Omaxe Ltd on Monday announced the appointment of Sunil Goel, brother of its chairman and MD Rohtas Goel, as additional director (executive), signalling a truce between the warring brothers

Raymond consolidates tools & hardware, auto parts biz into engineering biz

Board clears move to convert realty division into fully-owned subsidiary

KPR Mills, Raymond, Arvind: PLI scheme may trigger rally up to 23%

The shares of textile sector have witnessed renewed buying interest by market participants after the Union Cabinet approved the production-linked incentive (PLI) scheme on Wednesday.

Raymond Realty has expansion plans for several parts of Mumbai

To develop 17 msf of saleable area in next five years

Raymond Q1 net loss at Rs 157 cr; revenue from operations at Rs 826 cr

The company had posted a net loss of Rs 247.60 crore during the April-June quarter of the previous fiscal, Raymond said in a regulatory filing.

June quarter 'darkest hour of the fiscal', recovery in mid-term: Raymond

Raymond said a recovery in the segment would take a "mid-term time frame" when life is back to normalcy, primarily driven by occasion- and celebration-led dressing

Raymond's lifestyle business CEO Joe Kuruvilla steps down

Textile and apparels firm Raymond on Monday said CEO of its lifestyle business Joe Kuruvilla has decided to step down.