Shares Of Raymond Declined 3 Percent On August 2 After Company Reported Net Loss

Shares of Raymond declined 3 percent on August 2 after company reported net loss at Rs 14.85 crore in Q1FY20 versus profit of Rs 0.02 crore in Q1FY19. Revenue of the company rose to Rs 1,435.12 crore versus Rs 1,250.66 crore, YoY.

The company will be doing a buyback of upto USD 50 million of the USD 350 million 6.375 percent notes issued by the company under the updated USD 1,500 million secured Euro medium term note programme. The buyback will be done upon receipt of necessary regulatory approvals.

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