IIFL Securities's Stock Idea: Buy Raymond with Target Rs 2550
IIFL Securities recommends buying Raymond shares, setting a target price of Rs 2550. The brokerage firm believes the company's strong brand recognition, growing e-commerce presence, and focus on value-added products position it for continued growth. At the current market price of Rs 2457.5, investors have a potential upside of 3.8% based on IIFL Securities' target price.
About Raymond:
Raymond Limited, listed on the National Stock Exchange (NSE), is a leading Indian textile and apparel company founded in 1925. It is renowned for its premium suiting fabrics and a wide range of apparel products for men and women under various brands such as Raymond, Park Avenue, ColourPlus, and Parx. The company operates a network of over 1,500 retail stores and exclusive outlets across India and globally, and has a significant presence in the Middle East, Asia, and Africa. Raymond is recognized for its commitment to quality, innovation, and ethical business practices.
52 Week Price Trend:
Raymond (NSE: RAYMOND) is currently trading at Rs 2457.5, which falls within its 52-week range of Rs 1092.6 to Rs 2240. This indicates that the stock has been experiencing a significant upward trend in recent months, with a gain of over 100% since its 52-week low. However, it is currently trading below its 52-week high, suggesting that there may be some profit-taking or consolidation in the near term.
Stratzy's MOST Analysis:
Raymond has been rated BB by Stratzy's MOST framework, indicating medium fundamental risks. This rating considers the company's management, outlook, safety, and trend. The BB rating suggests that Raymond has a solid foundation but may face some challenges or have areas where improvement is needed. It implies that investors should exercise caution and conduct thorough research before investing.
Company's Fundamentals:
Raymond (NSE:RAYMOND) exhibits attractive valuation metrics. Its trailing 12-month Stock PE ratio of 7.27 indicates that the company's shares are trading at reasonable multiples of its earnings. Additionally, its Price-to-Book (PB) Ratio of 2.98 suggests that the market value of Raymond's assets is slightly higher than its book value. On the income front, the company offers a modest Dividend Yield of 0.16%, indicating that investors can expect some regular income from their investment in Raymond shares.
Fundamental and Technical information provided in this blog were last updated on 07 Jun, 2024
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