STOCK NOW Raymond stock price sees small recovery; shares up amid...

Raymond stock price sees small recovery; shares up amid Singhania family feud


- Advertisment -

As billionaire Gautam Singhania and estranged wife Nawaz Modi Singhania iron out the final details of their divorce settlement, things are starting to look up for Raymond Group share prices that have recently seen a small and gradual recovery.

Gautam Singhania and Nawaz Modi announced their divorce on November 13. (HT Archives)

After being on a downward spiral for over 14 days, Raymond’s stock prices have seen a small but significant spike in the rates for four straight days. Raymond stocks fell over 13 percent in November, when Singhania announced the news of his divorce.

Stay tuned with breaking news on HT Channel on Facebook. Join Now

In the first few days of December 2023, the stock prices have seen a gradual recovery. On December 5, the NSE opening price of Raymond stock was 1,599, up 1.04% from the previous day’s 1,582.5.

After days of minor ups and downs, Raymond stock prices closed at 1,585.65, up 0.2% from the day before’s closing price. This has given the shareholders a small glimmer of hope after their constant concern over the decline of the stock.

Raymond share prices hit their record high on September 9, recorded at 2,240 apiece. However, the steep decline led to shareholders panicking, and the market valuation of the company took a major hit in the last 15 days.

While the share prices have recovered, the market cap of Raymond Group continued to decline. It dipped below 11,000 crore for the first time in years, and is currently recorded at 10,551 crore.

Gautam Singhania-Nawaz Modi divorce

Raymond Group MD and Chairman Gautam Singhania announced in November that he was in the process of separating from his wife Nawaz Modi and the latter had demanded 75 percent of his net worth for the upkeep of his daughters.

However, divorce settlement negotiations took a controversial turn when Modi launched allegations of domestic violence against Singhania, saying that he had been physically abusive to his minor daughter Niharika.

Not commenting on the allegations, Singhania started the negotiations once again, and the couple is now deciding the final details of alimony.


Please enter your comment!
Please enter your name here

Latest news

Kim Kardashian wears sexy knitted black dress as she joins Hollywood stars Cher, Tom Brady and Sylvester Stallone at grand opening of the new...

Kim Kardashian made a low-key arrival at the launch of the launch of Fontainebleau Las Vegas — the newest upscale resort in...

Nifty Today | Share Market Live Updates: Sensex surges 850 pts; Nifty tops 21,400; TCS, Infy, HCL Tech lead

Nifty Today | Share Market Live Updates: India's key stock indices are seeing strong gains, hitting new...

Popularity is still on the rise for the only two Paralympic exclusive sports

One sport is hundreds, possibly thousands, of years old while the other is a relative newcomer. Nevertheless, they do have...
- Advertisement -

In South Korea, more young people say marriage ‘not necessary’ as nation’s birth rates plummet

“I don’t like either scenario. I will make a living for myself and myself alone is enough,” he said.Children...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you