Multibagger defence stock Raymond retraced after jumping over 7% during the intraday session on Wednesday, amid weak sentiments in the Indian stock market.
Raymond share price opened at ₹1,019 apiece on the NSE on Wednesday, against the previous close of ₹1,081.20 on Tuesday. The multibagger defence stock initially rallied nearly 7% to hit an intraday high of ₹1,160.50. However, it failed to sustain the gains and reversed course, falling over 3% to an intraday low of ₹1,061.10.
Raymond reported a nearly 130% year-on-year (YoY) surge in consolidated net profit to ₹32 crore in Q2 FY27, compared with ₹13.9 crore in the corresponding quarter last year.
The company's revenue from operations grew 24.1% YoY to ₹655 crore in the September quarter, up from ₹527.7 crore a year earlier.
Operating performance also strengthened, with earnings before interest, taxes, depreciation and amortisation (EBITDA) rising 74.4% YoY to ₹75 crore from ₹43 crore in the year-ago period.