Raymond in the limelight

Raymond is the top gainer on the BSE since morning. Clocking volumes of almost 4 times, the stock price rose to an intra day high at Rs.797 from its yesterday’s close of Rs.745.75. Its 52-week high is at Rs.839.80.

The market is very happy with the news that it has acquired JK Ansell’s 50% stake in a joint venture entity for Rs.19.3 crore. With this transaction, the sexual wellness and personal care business will continue to remain in JK Ansell which will become a wholly owned subsidiary of J.K. Investo Trade (India), a Raymond Group company.

As per the proposed deal, JKIT will sell its stake in the gloves business to Pacific Dunlop Holdings (Singapore) Pte (Ansell Group Company) for Rs.11.3 crore.

This acquisition will pave the way for Raymond to further scale up the FMCG business and unlock the potential of KamaSutra brand globally.

The Raymond group got into FMCG business in 1964 through its subsidiary, JK Helene Curtis and has a good portfolio of male grooming products like Park Avenue range of fragrances, soaps, shaving foam and gel.