Buy Raymond, price target Rs 700: CA Rudramurthy

CA Rudramurthy of Vachana Investment has a buy call on Raymond Ltd. with a target price of Rs 700. The current price of Raymond Ltd. is Rs 637.85. CA Rudramurthy recommended to keep a stop loss at Rs 580.

Raymond Ltd., incorporated in the year 1925, is a Mid Cap company (having a market cap of Rs 4118.40 Crore) operating in Textiles sector.

Raymond Ltd. key Products/Revenue Segments include Manufactured Goods which contributed Rs 1873.45 Crore to Sales Value (62.20 % of Total Sales), Traded Goods which contributed Rs 1058.73 Crore to Sales Value (35.15 % of Total Sales), Sale of services which contributed Rs 48.69 Crore to Sales Value (1.61 % of Total Sales), Export Incentives which contributed Rs 17.12 Crore to Sales Value (0.56 % of Total Sales), Waste which contributed Rs 13.58 Crore to Sales Value (0.45 % of Total Sales) for the year ending 31-Mar-2018.


For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 1883.17 Crore, up 31.22 % from last quarter sales of Rs 1435.12 Crore and up 1.92 % from last year same quarter sales of Rs 1847.75 Crore. Company has reported net profit after tax of Rs 82.42 Crore in latest quarter.