Raymond share price touches 52-week low after lifestyle biz CEO resigns - Moneycontrol.com

Raymond share price touches 52-week low after lifestyle biz CEO resigns - Moneycontrol.com

Raymond Group announced the demerger recently and has already initiated the process of completing the formalities for listing the new lifestyle entity, ‘Raymond Lifestyle Ltd.’

Raymond share price touched a 52-week low of Rs 429.35, falling 2.5 percent intraday on March 11 after the company's lifestyle business CEO decided to step down.

Sanjay Behl has decided to step down from his current role after serving for 7 years in the company, Raymond said in a press release.

Raymond Group announced the demerger recently and has already initiated the process of completing the formalities for listing the new lifestyle entity, Raymond Lifestyle Ltd.

The Lifestyle Business through a newly listed company will have the existing business of Branded Textiles, Branded Apparel & Garmenting, it added.

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“Raymond is managed by a strong team of professionals and we are confident of hiring the best-in-class CEO for the proposed listed entity as we embark on a new phase of transformation at Raymond Reimagined,” said Gautam Hari Singhania, Chairman & Managing Director.

At 09:36 hrs, Raymond was quoting at Rs 435.00, down Rs 5.25, or 1.19 percent on the BSE.

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First Published on Mar 11, 2020 10:01 am

2020-03-11 04:33:00Z
https://www.moneycontrol.com/news/business/stocks/raymond-share-price-touched-52-week-low-after-lifestyle-biz-ceo-resigns-5020531.html

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