Sell Raymond, target Rs 712: Dr CK Narayan

Dr CK Narayan of Chart Advise has a sell call on Raymond Ltd. with a target price of Rs 712. The current market price of Raymond Ltd. is Rs 728.15 Time period given by analyst is Intra Day when Raymond Ltd. price can reach defined target. Dr CK Narayan recommended to keep stoploss at Rs 735. Raymond Ltd., incorporated in 1925, has a market cap of Rs 4469.45 crore.

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 31-03-2019, the company has reported a Consolidated sales of Rs 1808.71 Crore, up 7.97 % from last quarter Sales of Rs 1675.16 Crore and up 10.97 % from last year same quarter Sales of Rs 1629.84 Crore Company has reported net profit after tax of Rs 68.21 Crore in latest quarter. The company’s top management includes Mr.Akshay Chudasama, Mr.Boman Irani, Mr.Gautam Hari Singhania, Mr.I D Agarwal, Mr.Pradeep Guha, Mr.Shiv Surinder Kumar, Mr.Surya Kant Gupta, Mrs.Nawaz Gautam Singhania.