Sell Raymond, target Rs 790: Dr CK Narayan

Dr CK Narayan of Chart Advise has a sell call on Raymond Ltd. with a target price of Rs 790. The current market price of Raymond Ltd. is Rs 802.2. 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 813. Raymond Ltd., incorporated in 1925, is a midcap company with a market cap of Rs 4923.97 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 30-06-2018, the company has reported a Consolidated sales of Rs 1250.66 Crore, down -23.26 % from last quarter Sales of Rs 1629.84 Crore and up 4.49 % from last year same quarter Sales of Rs 1196.88 Crore Company has reported net profit after tax of Rs 2.91 Crore in latest quarter. The company’s top management includes Mr.Akshay Chudasama, Mr.Boman Irani, Mr.Gautam Hari Singhania, Mr.H Sunder, Mr.I D Agarwal, Mr.Nabankur Gupta, Mr.Pradeep Guha, Mrs.Nawaz Gautam Singhania. Company has Walker Chandiok & Co. LLP as its auditoRs As on 30-06-2018, the company has a total of 61,380,854 shares outstanding.