Raymond shares hits record high after textile company's board announces demerger of real estate arm

New Delhi [India], July 5 (ANI): Shares of Raymond hit a life high on Friday, a day after the Group announced the vertical demerger of its real estate business into its wholly owned subsidiary, Raymond Realty Ltd (RRL).

The Board of Raymond Limited announced on Thursday that Raymond Limited and Raymond Realty Limited (RRL) will operate as separate listed entities, a company statement said.

The shares of Raymond surged aro