Top Stocks Today : IIFL Securities has Buy call on Raymond - June 07

IIFL Securities has recommended a 'buy' call for Raymond Ltd. at the current market price of Rs 2457.5. The research firm has set a target price of Rs 2550 for the stock, indicating a potential upside of 3.8%. The company's strong brand recognition, expansion plans, and focus on value-added products are seen as key growth drivers. Raymond shares have been trading in a range-bound manner in recent weeks, but analysts expect the stock to break out on the upside, driven by positive earnings momentum and improving market sentiment.

About Raymond:

Raymond Limited, established in 1925, is a diversified conglomerate with a strong presence in the textile and apparel industry. It is listed on the National Stock Exchange (NSE) under the symbol "RAYMOND." The company manufactures and markets a wide range of fabrics, apparel, retail products, and accessories. Raymond is known for its iconic brands such as Park Avenue, ColorPlus, Parx, and Manzoni. It also operates a chain of retail stores across India and has a global presence. The company is committed to sustainability and ethical practices, with a focus on innovation and customer satisfaction.

52 Week Price Trend:

Raymond, a leading Indian textile and fashion company, is currently trading at Rs 2457.5, well above its 52-week low of Rs 1092.6. The company's strong financial performance, brand recognition, and expansion plans have contributed to its impressive share price growth. Raymond's diversified portfolio includes suiting, shirting, toiletries, and accessories, catering to a wide consumer base. Despite facing challenges from the pandemic, Raymond has shown resilience and is expected to continue its positive trajectory in the future. The recent uptrend in its share price reflects investor confidence in the company's long-term prospects.

Stratzy's MOST Analysis:

Raymond, assessed by Stratzy's MOST framework, has received a 'BB' rating. This indicates that the company possesses medium fundamental risks. The MOST framework evaluates stocks based on Management, Outlook, Safety, and Trend. Raymond's rating suggests that while its management, outlook, safety, and trend are not exceptionally strong, they also do not pose significant concerns. Investors should be aware of the potential risks associated with Raymond before making any investment decisions.

Company's Fundamentals:

Raymond, listed on NSE, has a stock PE ratio of 7.27, indicating that its stock price is 7.27 times its earnings per share. Its PB ratio of 2.98 suggests that its market value is 2.98 times its book value, indicating that it is slightly overvalued. The dividend yield of 0.16% reflects the company's decision to distribute a small portion of its earnings to shareholders in the form of dividends, providing a passive income stream for investors.

Fundamental and Technical information provided in this blog were last updated on 07 Jun, 2024

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