IIFL Securities Stock Market Watch Today: Buy Raymond - June 25

IIFL Securities has recommended buying Raymond shares, setting a target price of Rs 2900, indicating an upside potential of approximately 3.05%. The current market price of Raymond is Rs 2814. This recommendation is based on the company's strong brand presence, robust distribution network, and potential growth in the branded apparel segment. The company's focus on innovation and product diversification is also seen as a positive factor.

About Raymond:

Raymond Limited, founded in 1925, is a leading Indian textile and apparel company listed on the National Stock Exchange (NSE). With a vast product portfolio ranging from suiting fabrics to branded apparel, Raymond caters to both domestic and international markets. Known for its iconic 'The Complete Man' brand, the company has a strong retail presence across India and operates manufacturing facilities in multiple locations. Raymond's commitment to innovation and sustainability has earned it recognition as a leading player in the Indian textile industry.

52 Week Price Trend:

Raymond (NSE:RAYMOND) is currently trading at Rs 2814, having reached a 52-week high of Rs 2240 and a low of Rs 1092.6. The stock has witnessed a significant surge in price since its low, indicating a positive trend. The company's strong fundamentals, including rising demand for its products and a focus on innovation, have contributed to its bullish performance. Analysts remain optimistic about Raymond's growth prospects, with some expecting further price appreciation in the coming quarters.

Stratzy's MOST Analysis:

Raymond, a textile and apparel manufacturer, has been assigned a BB rating by Stratzy's MOST framework. This rating reflects the company's moderate fundamental risk, as assessed through the analysis of its management, outlook, safety, and trend indicators. The BB rating indicates that Raymond has a medium level of risk compared to other stocks, with potential areas for improvement in one or more of the MOST pillars. This rating can help investors make informed decisions about their investment strategy and assess the company's overall financial health.

Company's Fundamentals:

Raymond (NSE: RAYMOND), a listed company on the National Stock Exchange of India, is currently trading at a Stock PE of 7.27, indicating that investors are willing to pay ₹7.27 for every ₹1 of earnings. The PB Ratio of 2.98 suggests that the market value of the company is 2.98 times its book value, reflecting its premium valuation. Despite its low Stock PE and PB Ratio, Raymond offers a modest Dividend Yield of 0.16%, indicating that investors may prioritize capital appreciation over dividend income.

Fundamental and Technical information provided in this blog were last updated on 25 Jun, 2024

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