Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Raymond Limited ( (IN:RAYMOND) ) has issued an update.
Raymond Limited has notified stock exchanges that, following the amalgamation of the engineering business of JK Files and Engineering Limited and the merger of Ring Plus Aqua Limited with JK Maini Precision Technology Limited under a composite scheme of arrangement, CARE Ratings has withdrawn the credit ratings previously assigned to the bank facilities of these subsidiaries. The withdrawal follows the transfer and/or ongoing transfer of the relevant bank facilities to JK Maini Precision Technology Limited and confirmation from lenders that there are no outstanding amounts against the rated facilities in the names of the erstwhile entities, marking a further step in Raymond’s consolidation of its engineering operations and simplifying its subsidiary capital and banking structure for stakeholders.
More about Raymond Limited
Raymond Limited is a diversified Indian conglomerate best known for its textiles and apparel business, while also operating engineering and related businesses through various subsidiaries. The group has been streamlining its portfolio and structure, including engineering and precision technology units, to enhance operational efficiency and focus within its non-core segments.
Average Trading Volume: 15,461
Technical Sentiment Signal: Hold
Current Market Cap: 28.09B INR
For detailed information about RAYMOND stock, go to TipRanks’ Stock Analysis page.