Tag: Raymond

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Income Tax Survey of Raymond’s Realty Division

The Income Tax (I-T) department is currently conducting a survey action on entities associated with the textile and apparel giant Raymond Group. The survey, which started on Thursday and continued into Friday, focuses on the group’s real estate operations, according to sources familiar with the situation. Unlike searches, a survey action is restricted to official premises and is carried out solely during business hours. In a regulatory announcement on Friday, Raymond indicated that it is fully cooperating with the authorities. “We would like to inform you that yesterday, certain officials from the Income Tax Department visited some of the company’s…

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Norges Bank sells ₹42 crore in Raymond Realty; parent’s ₹221 crore deal

On Tuesday, Raymond Limited’s real estate division, Raymond Realty, made its debut on the stock market amid a block deal, as Norges Bank sold 4,12,585 equity shares valued at approximately Rs 42 crore. This transaction occurred slightly above the listing price of Rs 1,000 on the NSE but below the discovery price. Norges Bank, on behalf of the Norwegian Government Pension Fund Global, sold shares at Rs 1,005.94. Conversely, shares of Raymond Realty closed at Rs 999, down by Rs 40, which is nearly a 4% drop from the discovery price of Rs 1,039.30. The parent company, Raymond, also experienced…