If you just looked at a chart for the stock price of Raymond recently, you probably had a mini heart attack. Seeing a stock drop 60% or 70% in a single day usually means a company is going bankrupt or some massive scandal just broke. But with Raymond, that’s not the case. Not even close.
Honestly, the "Complete Man" has been busy cutting himself into pieces.
Most retail investors see a sea of red and panic-sell, but if you've been following the Gautam Singhania-led group, you know this is all part of a massive "value unlocking" game. They’ve demerged the lifestyle business (branded apparel) and the real estate business into separate entities.
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What’s left? Well, that’s what we need to talk about.
The 66% "Crash" That Wasn't Really a Crash
Back in mid-2025, the stock price of Raymond took a massive technical hit. It wasn't because they stopped selling suits. It was because the company officially separated its massive real estate arm, Raymond Realty.
Think of it like this: if you have a cake worth $100 and you cut it in half, you don't "lose" $50. You just have two $50 pieces.
Why the chart looks broken
On the ex-date for the demerger, the exchange adjusts the price. Shareholders were promised one share of the new Raymond Realty for every one share they held in the parent company. Because the real estate business was such a huge chunk of the company's valuation, the main stock price had to drop to reflect its new, leaner self.
Right now, as of mid-January 2026, the stock price of Raymond is hovering around the ₹403 mark. If you compare that to the ₹1,500 levels seen in early 2025, it looks like a disaster. But you've got to remember the "free" shares investors got in the Lifestyle and Realty businesses.
What’s Actually Left in Raymond Limited?
You might be wondering what you're actually buying if you pick up shares today. After hiving off the glamorous fashion labels and the soaring towers in Thane, Raymond Ltd is basically an engineering and industrial play now.
It’s less about "The Complete Man" and more about "The Industrial Machine."
- Engineering Business: They make high-precision tools, files, and auto components. It’s a steady, "boring" business that generates decent cash flow.
- Maini Precision Products: They recently acquired this, which gives them a massive foothold in aerospace and defense components.
- Residual Assets: They still hold some land and some legacy businesses, but the focus is clearly pivoting toward high-tech engineering.
Basically, the company is trying to shed its image as a slow-moving textile giant and re-emerge as a lean engineering powerhouse. It’s a bold move. Kinda risky? Maybe. But analysts like those at Motilal Oswal have been keeping a close eye on whether this "Engineering 2.0" strategy can actually command the high multiples the old Raymond used to enjoy.
The Real Estate Factor: The Hidden Gem?
Even though the realty business is being demerged, its performance still dictates the sentiment around the whole group. Raymond Realty has been a beast in the Mumbai Metropolitan Region (MMR).
They didn't just build apartments; they built them fast.
In the September quarter (Q2 FY26), the realty division reported a 208% YoY jump in revenue. That's insane. They are targeting a 20% growth in booking value for the full year 2026. Most of that is expected to come from new project launches in the second half of this fiscal year.
If you're tracking the stock price of Raymond, keep an eye on their "Ten X" projects in Thane. If those continue to sell out, the "halo effect" will keep the parent company's stock stable, even if they are technically separate now.
Is the Current Price a Bargain?
Looking at the numbers from January 2026, the stock has been a bit of a "sell candidate" for short-term traders. It’s been stuck in a falling trend lately, sliding from around ₹430 at the start of the year to near its 52-week low of ₹398.
The Valuation Gap
The P/E ratio looks weirdly low—around 0.5x on some platforms—but that’s usually a data glitch caused by the massive one-time gains recorded during the demerger process.
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Don't let that fool you.
The real metric to watch is the Price-to-Book (P/B) ratio, which is currently around 0.65. When a stock trades below its book value, it usually means the market is skeptical about its future growth or there's a "conglomerate discount" still at play.
What Most People Get Wrong
People keep waiting for Raymond to "return" to ₹2,500. It won't.
Not because it's failing, but because the company's structure has fundamentally changed. To calculate your true return, you have to add up:
- The price of Raymond Ltd (Engineering).
- The price of Raymond Lifestyle (Apparel).
- The (soon-to-be) listed price of Raymond Realty.
Only then do you see the full picture.
The biggest mistake is looking at the standalone stock price of Raymond and thinking the company has shrunk. In reality, the Singhania family has just unbundled the value so that a real estate investor doesn't have to own a textile mill, and a fashion enthusiast doesn't have to bet on auto parts.
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Actionable Insights for Investors
If you're holding or thinking about buying, here is the "real talk" strategy for 2026:
- Watch the Jan 27 Earnings: Raymond is slated to report Q3 FY26 results soon. This will be the first clean look at how the engineering business is performing without the "noise" of the other divisions.
- The Aerospace Bet: The integration of Maini Precision is the real "X factor." If they snag big contracts from global aerospace players, this stock could re-rate as a "Defense & Aerospace" play, which usually gets much higher valuations than textiles.
- Check the Realty Listing: Once Raymond Realty lists (expected soon), the "uncertainty discount" on the parent stock might finally lift.
- Mind the Technicals: Currently, there's heavy resistance at the ₹426 mark. Unless it breaks above that with high volume, it might continue to drift sideways or slightly lower.
Next Steps:
Go to your brokerage app and check your "Corporate Actions" or "Portfolio History" to see how many shares of the demerged entities you've actually been allotted. Don't judge the stock price of Raymond in isolation; evaluate the "New Raymond" as a precision engineering firm. If you believe in India's manufacturing and "Make in India" story, the current dip near ₹400 might actually be the entry point you've been looking for.