Multibagger defence stock Raymond ended 4.22% higher at ₹772.80 after hitting a 52-week high of ₹ 789 during the session on Monday, 7 September, ahead of the company’s board meeting to discuss fundraising.
Raymond plans to raise funds
In an exchange filing on 3 September, Raymond said a board meeting would be held on Tuesday, 8 September, to consider and evaluate a proposal for raising of funds through the issuance of equity shares and/or convertible securities and/or warrants and/or any other eligible securities, on a rights/preferential basis or any other permissible mode/and/or combination thereof as may be considered appropriate, subject to such regulatory/ statutory approvals as may be required.
Multibagger returns
Raymond shares have delivered strong multibagger returns of 103% over the last six months, defying weak stock market trends.
The stock hit a 52-week low of ₹320.40 on 30 March this year, and at the current juncture, it is up 141% from its 52-week low.
The sharp jump in the stock is driven by defence re-rating buzz as well as the company’s healthy earnings.
“The stock is witnessing a buzz due to a healthy year-on-year (YoY) rise in its total income for Q1FY27 and expectations of healthy growth of its aerospace business. The stock may touch ₹800 to ₹850 in the short term,” said Anuj Gupta, SEBI Registered Market Analyst.
The market is bullish on the stock, viewing it as a pure-play in the aerospace, precision technology, and automotive components segments following the demerger of the company’s lifestyle and realty business.
Raymond’s Q1FY27 total income stood at ₹628 crore, up 13% year-on-year (YoY). EBITDA rose 14% YoY to ₹100 crore with margin expanding by 20 basis points YoY to 15.9%.
As brokerage firm Nirmal Bang highlighted, both the aerospace and precision engineering businesses reported their highest-ever quarterly revenue, reinforcing the structural growth story across segments.
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