Shares of Raymond hit an all-time high of Rs 1,755, soaring 9 per cent on the BSE in Thursday’s intra-day trade amid a new report that Godrej Consumer Products (GCPL) was in advanced talks for a deal with the company for its consumer care business that includes the Park Avenue male grooming brand and Kamasutra condom.
The stock price of Raymond surpassed its previous high of Rs 1,644, touched on December 16, 2022. In past one month, the stock has zoomed nearly 50 per cent, as compared to 4.7 per cent rise in the S&P BSE Sensex.
Meanwhile, shares of Godrej Consumer Products were down nearly 3 per cent at Rs 948.
The Singhania-family owned Raymond group has been looking to divest its consumer care business for over two years now, since the group believes this is a non-core business in its portfolio, the
Economic Times reported quoting people aware of the development.
The potential deal will give Godrej Consumer a bigger play in the men’s personal care and sexual wellness categories, the report suggested. Shares of GCPL were down 3 per cent to Rs 950 on the BSE in intra-day trade. The stock had hit a record high of Rs 944.45 on Monday, April 24, 2023.
Raymond is a diversified group that is a leading name in textile & apparel sectors, along with a rapidly growing presence in real estate, fast moving consumer goods (FMCG) and engineering.
Raymond Group has a presence in the FMCG industry through its associate company Raymond Consumer Care Limited (RCCL). The FMCG businesses of personal care, sexual wellness and home care have been integrated in RCCL in FY2019-20. This integration has brought about business synergies, operational efficiencies and channel distribution strengths.
RCCL is amongst the top players in India’s Fragrances and Sexual Wellness categories, with aspirational brands like Park Avenue, KamaSutra, KS and Premium encompassing its Personal Care, Sexual Wellness and Home Care Segments. Raymond Consumer Care also has a worldclass condoms manufacturing facility with 400 million per annum capacity in Aurangabad, Maharashtra.
