( Recommended in SAKAL NEWS PAPER. Arthvishwa ) : 1st June 2009
Raymonds Ltd : Rs 152.65- Raymond Limited, the largest integrated manufacturer of worsted fabric in the world was incorporated as the Raymond Woollen mill during the year 1925 in the area around Thane creek.
- The company comprises in three business divisions, such as Textiles, Engineering and Aviation. Textile division of the company has a distribution network of more than 4,000 multi-brand outlets and over 400 exclusive retail shops in the domestic market itself.
- Suitings are available in India in over 400 towns through 30,000 retailers and an exclusive chain is present in over 150 cities across India and overseas especially the products exports to over 55 countries including USA, Canada, Europe, Japan and the Middle East.
- Raymond is planning to increase its retail stores from 433 to 950 and expects the revenue from the stores to increase.Most of these stores will come up in small towns.
Share Holding Pattern :
- Promoters : 38.37 %
- Public : 60.17%
Technical Overview :
- The stock On Day Chart has given an "Flag Pattern Breakout" and on weekly chart after a consolidation phase has formed "Higher Tops & Higher Bottom Formation" with good volumes,indicating the stock to outperform in short term.The stock is recommended to buy cmp Rs 152.65 Short term view.
Support Levels :
- Support 1 : 137
- Support 2 : 119
Stoploss : 106 on weekly closing basis.
Targets :
- Target 1 : 164
- Target 2 : 201
- Target 3 : 224
- Target 4 : 271
Period : 4 to 5 Months