Buy Raymond for Rs 450 target: Ashish Maheshwari

In a chat with ET Now, Ashish Maheshwari, director, Globe Capital Market Ltd., shares his view on the outlook of Raymond.

What's the call on Raymond?

I will just buy Raymond for two reasons - for their real estate and that they are among the top three denim producers of the country. Denim is where we have seen prices going up by 60% in the last one year and due to this we are going to see very good numbers from the textile division of Raymond in the second quarter. And the biggest trigger is going to be real estate and they are going to develop it, the disputes are getting sorted out. So, soon we are going to see that move also. Other things their children garments, ladies accessories, etc., are not a trigger anymore in the stock, but I like the company. I would like to give a price target of Rs 450 in the short term in Raymond after the Q2 results are announced.