Raymond share price gained more than 1% in early trade on Friday, 25 September, climbing to a fresh 52-week high of ₹1,222.15 apiece on the BSE. The stock, however, later pared gains and slipped into negative territory.
Recently, Raymond announced that its aerospace business is expanding into aircraft structures, with its subsidiary, JK Maini Global Aerospace Ltd, securing a contract to assemble wing and centre-fuselage structures for an indigenous fighter aircraft programme.
Raymond enters aircraft structures
According to the company’s exchange filing, the order was awarded by a leading Indian aerospace and defence original equipment manufacturer (OEM). Raymond has not disclosed the identity of the customer, the specific fighter aircraft programme or the financial value of the contract.
The contract marks a strategic expansion of Raymond’s aerospace operations. The group, which has traditionally focused on precision manufacturing and aerospace components, will now participate in the assembly of larger aircraft structures.
The project is expected to leverage the customer’s existing manufacturing infrastructure. Raymond said this approach will allow the group to develop capabilities and gain execution experience without requiring significant upfront investments in new facilities.
Management sees larger opportunity
Rakesh Tiwary, Group CFO, Raymond Group, said the opportunity extends beyond its immediate revenue potential and could help the company establish a presence in the high-value aircraft structures segment.
According to Tiwary, the project will enable Raymond to build execution credentials that could support its subsidiaries in pursuing larger aerospace programmes in India and overseas. The company plans to focus on execution and gradually develop the business into a scalable growth platform.
Aerospace and defence become key engineering focus
Raymond Limited currently operates two core businesses within its Engineering vertical: Aerospace and Defence & Tools, and Auto Components.
The engineering business has expanded into aerospace and defence, as well as electric vehicle components, serving both domestic and international markets.
The company also has an established presence in the manufacturing of files and hand tools, with operations serving customers in India and overseas.
The latest aerospace contract adds another layer to Raymond’s engineering portfolio, as the company seeks to move further up the value chain from component manufacturing towards aircraft structures and assemblies.
Raymond share price today
Raymond share price today opened at ₹1,201 apiece on the BSE, the stock touched an intraday high of ₹1,222.15 per share, and an intraday low of ₹1,171.95 per share.
Raymond shares have delivered strong gains across multiple time frames. The stock has risen 21.83% in the past week and 18.78% over two weeks, while the one-month gain stands at 90.50%. Over the past three and six months, the stock has surged 101.35% and 235.69%, respectively. On a year-to-date basis, Raymond shares have gained 179.61%.
Sudeep Shah, Vice President – Technical and Derivatives Research at SBI Securities, said Raymond had consolidated in the 571–659 range for nearly two months before breaking out around four weeks ago.
Since the breakout, the stock has gained around 60%, with strong follow-through over the past three weeks, supported by robust trading volumes, Shah said.
He noted that the rising Average Directional Index (ADX) points to strengthening trend intensity, while expanding green bars on the MACD histogram and the upward-sloping MACD line further reinforce the bullish setup. On the weekly chart, the Relative Strength Index (RSI) is also trending higher, indicating strong bullish momentum, according to Shah.
Shah placed immediate support for Raymond in the 1,080–1,070 zone. He said the broader bullish bias is likely to remain intact as long as the stock sustains above this support area.
However, he cautioned that the stock’s price, RSI, and ADX appear stretched at current levels, suggesting that some profit-booking could emerge in the near term.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
