Multibagger stock: A change in leadership, rapid scale-up in real estate business, focus on cost optimisation, the sale of the FMCG business to GCPL and the acquisition of Maini Precision Products supported the stock.
Raymond share price: After hitting an all-time high on Thursday, Raymond share price slipped 7% on profit-booking today after Godrej Consumer Products acquired the FMCG business of Raymond Consumer Care for Rs 2,825 crore.
Raymond Consumer Care's FMCG business is being sold to GCPL along with the trademarks of Park Avenue (for the FMCG category), KS, KamaSutra and Premium, through a slump sale, Godrej Consumer stated in an exchange filing. The deal is expected to be completed by May 10, 2023, it added.