Announced Fri, 7 Aug · 18:01 IST
Raymond Realty to set up wholly owned subsidiary for real estate projects
RAYMONDREL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-11.6%1-day move
₹692.00
prior close
₹615.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+2.6+5.4+4.5+3.3-11.6-16.1-17.6-15.9-16.0-17.4————
Up moveDown movePending
AI summary
Raymond Realty board approved incorporating Ten X Mahalaxmi Limited as a wholly owned subsidiary with paid-up capital of about Rs 1 lakh. The new entity will take on real estate projects, mainly redevelopment, to reduce project-specific risks. It is in the same real estate line, so not a related party deal. No approvals needed.
Likely market impact
Small step - new WoS with Rs 1 lakh capital to handle real estate projects, mainly redevelopment. Limited near-term impact but shows growth direction.