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Raymond shares fall after high as defence momentum continues
Raymond’s share price went down on September 23 after reaching its highest price in a year.
Some investors sold shares to lock in profits after the recent rise.
Even after the fall, the stock had gained 214% in six months.
Raymond is planning to raise money by issuing convertible warrants to Minerva Ventures Fund.
Shareholders will discuss this proposal at a meeting on October 3.
The company’s aerospace business also received a ₹33 crore order.
The order includes aerospace castings, structural parts and complex assemblies.
Raymond’s Aerospace & Defence division performed better in the first quarter of FY27.
Analysts expect India’s defence industry to grow as domestic manufacturing expands.
Raymond shares fell as much as 3.4% to ₹1,075.10 on September 23 after reaching a 52-week high of ₹1,195.30 the previous day.
The stock has gained 10% in one week, 70% in one month, 84% in three months and 214% in six months.
Raymond will hold an Extraordinary General Meeting on October 3 to consider proposals including a preferential issue of securities.
The company plans to issue 33.28 lakh convertible warrants at ₹645 each to Minerva Ventures Fund through private placement.
Raymond’s aerospace arm secured a ₹33 crore order, while its Aerospace & Defence segment reported 40.4% year-on-year revenue growth in Q1 FY27.
- Who
- Raymond Limited, its shareholders and investors; Minerva Ventures Fund is proposed to receive the convertible warrants.
- What
- Raymond shares declined after touching a 52-week high, while the company pursued a preferential warrant issue and reported aerospace-related growth.
- Where
- The share-price movement was reported on the BSE; the company’s defence and aerospace operations are in India.
- When
- The share decline occurred on Wednesday, September 23; the 52-week high was reached on September 22, and the EGM is scheduled for October 3.
- Why
- Investors booked profits after the stock reached a new 52-week high, while interest was also supported by the planned fundraising, a new defence order and expectations for Indian defence-sector growth.
Key facts
- September 23 low
- ₹1,075.10 per share on the BSE
- Previous 52-week high
- ₹1,195.30, reached on September 22
- Six-month share gain
- 214%
- Proposed warrant issue
- 33.28 lakh convertible warrants at ₹645 each
- Extraordinary General Meeting
- Scheduled for Saturday, October 3
- Aerospace order
- ₹33 crore, with production expected to begin progressively across 2026 and 2027
- Q1 FY27 Aerospace & Defence revenue
- ₹123 crore, up 40.4% year on year
Sources
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