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Multibagger defence stock Raymond ended 4.22% higher at ₹772.80 after hitting a 52-week high of ₹ 789 during the session on Monday, 7 September, ahead of the company's board meeting to discuss fundraising.Raymond plans to raise fundsIn an exchange filing on 3 September, Raymond said a board meeting would be held on Tuesday, 8 September, to consider and evaluate a proposal for raising of funds through the issuance of equity shares and/or convertible securities and/or warrants and/or any other eligible securities, on a rights/preferential basis or any other permissible mode/and/or combination thereof as may be considered appropriate, subject to such regulatory/ statutory approvals as may be required.Multibagger returnsRaymond shares have delivered strong multibagger returns of 103% over the last six months, defying weak stock market trends.The stock hit a 52-week low of ₹320.40 on 30 March this year, and at the current juncture, it is up 141% from its 52-week low.The sharp jump in the stock is driven by defence re-rating buzz as well as the company's healthy earnings."The stock is witnessing a buzz due to a healthy year-on-year (YoY) rise in its total income for Q1FY27 and expectations of healthy growth of its aerospace business. The stock may touch ₹800 to ₹850 in the short term," said Anuj Gupta, SEBI Registered Market Analyst.The market is bullish on the stock, viewing it as a pure-play in the aerospace, precision technology, and automotive components segments following the demerger of the company's lifestyle and realty business.Raymond's Q1FY27 total income stood at ₹628 crore, up 13% year-on-year (YoY). EBITDA rose 14% YoY to ₹100 crore with margin expanding by 20 basis points YoY to 15.9%.As brokerage firm Nirmal Bang highlighted, both the aerospace and precision engineering businesses reported their highest-ever quarterly revenue, reinforcing the structural growth story across segments.Read all market-related news hereRead more stories by Nishant KumarDisclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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