Raymond reported an 18% rise in fourth-quarter profit on Friday, buoyed by strong demand for its real-estate segment. Its revenue from operations rose 21% in the quarter.
The stock gave a break down from 1,900-2,000 levels in September 2023 and since then it has seen a timewise and price-wise correction. It found support above 1,600 levels. The garment stock finally broke out from the range as it closed above 2,000 levels. It closed at Rs 2,011 on April 19, 2023. It rallied over 6% in a week.