Raymond Stock Hits 52-Week High After 166% YTD Gain As Defence Shares Rally; Know Why Multibagger Stock is Up

Defence stocks witnessed a sharp upmove in Tuesday's trading session, with several private-sector companies emerging as the key drivers of the rally. Raymond, Unimech Aerospace and Manufacturing, Apollo Micro Systems and Aequs were among the prominent gainers, with the stocks rising as much as 10% during intraday trade.

Raymond Share Price Gains Nearly 3% Amid Defence Stocks Rally

The rally was particularly notable in Raymond, where buying momentum pushed the stock to an intraday high of Rs 1,193.40. The shares eventually stood at Rs 1,117 at 3:30 pm on September 22, marking a gain of Rs 32.05 or 2.95% over the previous close. Raymond had opened at Rs 1,090 and traded between Rs 1,089.95 and Rs 1,193.40 during the session.

The move in Raymond came against the backdrop of a wider re-rating in aerospace and defence-linked stocks. The Nifty Defence index was at 9,471.55, up 54.65 points or 0.58%, while the sharpest moves were seen in several private-sector names.

Raymond Share Price Hits Fresh 52-Week High; Know What's Behind The Rally

The latest rally has added another leg to what has already been a sharp run in Raymond shares. The stock touched Rs 1,193.40 during Tuesday's session, marking a fresh 52-week high. According to market data reported on Tuesday, Raymond had gained around 76% over the previous month and more than 166% on a year-to-date basis, placing the stock firmly in the multibagger category for 2026.

The scale of the move is also visible over a longer period. Market reports showed the stock had gained more than 200% over six months, highlighting how quickly investor interest has accelerated in the counter. The sharp rise has come as Raymond's aerospace and defence exposure has gained greater visibility alongside other corporate developments.

Raymond's presence in the defence theme is linked to its aerospace business, which has been expanding its exposure to specialised manufacturing. Its aerospace division recently secured multi-programme orders worth around Rs 33 crore from an Indian aerospace and defence major. The orders cover machining, aerospace castings, structural components and complex assemblies, with production expected to begin in phases during 2026 and 2027.

Raymond To Raise Rs 214 Crore Through Preferential Issue Of 33.28 Lakh Warrants

One of the key stock-specific triggers is Raymond's proposed fund-raising through a preferential issue of convertible warrants. The company's board has proposed the issue of 33.28 lakh warrants at Rs 645 each to Minerva Ventures Fund, which could raise around Rs 214.71 crore if fully subscribed. The proposal is subject to shareholder and other regulatory approvals.

Each warrant will be convertible into one fully paid-up Raymond equity share. If all the warrants are converted, Minerva Ventures Fund would receive around 33.28 lakh shares, equivalent to about 4.35% of the company on a fully diluted basis, according to the regulatory filing.

The proposed fund-raising has therefore become an important corporate trigger for the stock. Raymond has called an Extraordinary General Meeting to seek shareholder approval for the preferential issue. The company's EGM notice states that the meeting is scheduled for October 3, 2026, and includes the proposed issue of up to 33,28,686 warrants at Rs 645 each.

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