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market | IST

Momentumisers: Raymond in focus, here’s why

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Raymond was at a 21-month high on Wednesday. It has moved up as much as 23 percent in the last three days backed by volumes.

Raymond was at a 21-month high on Wednesday. It has moved up as much as 23 percent in the last three days backed by volumes.
In the last five days, the volumes have risen by as much as 2.5 times compared to one month volumes.
Similarly, its deliverable volumes are also up 1.5 times. So there has been a surge backed up by good amount of buying coming through.
At this moment, the nearest support is the 20-day moving average (DMA), which is at Rs 512 and the next support will be the 3-day low at Rs 494.
The reasons behind this surge have been the anticipated restructuring of the business, also a lot of these shareholders are looking out for what plans the company has for its Thane land parcel and it is probably why such a surge has been seen in Raymond.
Watch the accompanying video of Agam Vakil for more details.