Buy Raymond, target price Rs 2310: Motilal Oswal

Motilal Oswal has buy call on Raymond Ltd. with a target price of Rs 2310. The current market price of Raymond Ltd. is Rs 1939.55.

Raymond Ltd., incorporated in the year 1925, is a Mid Cap company (having a market cap of Rs 12870.70 Crore) operating in Textiles sector.

Raymond Ltd. key Products/Revenue Segments include Textiles, Income From Real Estate Development, Apparel, Others for the year ending 31-Mar-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 998.27 Crore, down -62.86 % from last quarter Total Income of Rs 2688.18 Crore and down -45.35 % from last year same quarter Total Income of Rs 1826.50 Crore. Company reported net profit after tax of Rs 7380.17 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 49.01 per cent stake in the company as of 30-Jun-2024, while FIIs owned 15.56 per cent, DIIs 9.28 per cent.