Raymond shares slump 6% after strong run | Key support levels to watch

Raymond shares came under pressure on Wednesday, 16 September, with the stock falling around 6% during the trading session. The decline came amid profit-booking after a sharp recent rally, as investors pared positions following strong gains triggered by the order win secured by the company’s aerospace subsidiary.

Raymond share price today opened at ₹996.10 apiece on the BSE, the stock touched an intraday high of ₹1,060 per share, and an intraday low of ₹938 per share.

Technical experts said the stock is witnessing a correction after gaining nearly 80% over the past few weeks.

Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said Raymond’s stock had consolidated in the ₹659–571 range for nearly two months before breaking out last week. The breakout was followed by a strong upward move, supported by robust trading volumes.

He noted that the rising ADX points to strengthening trend momentum, while the expanding green MACD histogram bars and upward-sloping MACD line reinforce the bullish setup. On the weekly chart, the RSI has also turned higher after remaining largely flat, indicating renewed momentum.

Shah placed immediate support for the stock in the ₹870–865 zone and said the bullish bias is likely to remain intact as long as Raymond trades above this range. However, with the price, RSI and ADX appearing stretched at current levels, he cautioned that some near-term profit booking cannot be ruled out.

Raymond aerospace subsidiary wins ₹33 crore annual business potential

Raymond said on Friday that its subsidiary has secured multi-programme aerospace orders from a leading Indian aerospace and defence company. The announcement was made after market hours, putting the stock in focus for the next trading session.

According to an exchange filing, the orders cover precision machining, aerospace castings, structural components and complex assemblies, with an estimated annual business potential of around ₹33 crore.

Rakesh Tiwary, Group Chief Financial Officer, Raymond Ltd, said the order win is in line with the company’s strategy to optimise its product mix and strengthen its multi-year aerospace order pipeline.

He said the orders highlight Raymond’s manufacturing capabilities across multiple stages of the aerospace value chain, including machining, castings, structures and assemblies. This could help the company increase its programme-level revenue capture and improve the quality of its multi-year order backlog, Tiwary added.

The orders also expand Raymond’s customer base within India’s domestic aerospace ecosystem, which has largely been export-led so far, he said.

Tiwary added that the latest wins further strengthen Raymond’s multi-year aerospace pipeline and support its strategy of building a scaled, high-precision aerospace and defence manufacturing platform in India.

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