An investment may be considered in the stock of Raymond, as there are full chances of upside potential today.

Stock analysts have given this buy call, and said that the stock is expected to generate handsome returns in today’s session. It has performed brilliantly on Monday, and today, it opened at Rs 416 as against its previous close at Rs 412.60.    

Interested investors can purchase the stock with a stop loss of Rs 406 to achieve an intraday target of Rs 421-429. The traders can surely achieve this target as the stock market is also trading in the positive mood.

On Bombay Stock Exchange (BSE), the stock has touched 52-week high of Rs 479 with the low of Rs 271. The stock is trading at a P/E of 29.71 and provides an EPS of Rs 13.87.

On 14 Dec, Raymond announced the allotment of 6,138,085 warrants at the price of Rs 34 a warrant (being 10% of the issue price of Rs 340 a share of Rs 10 each) to J K Investors (Bombay), the promoter of the company.

The said warrants carry right, entitling its registered owner to apply for at its option, and seek allotment of one equity share upon surrendering / exchange of the said warrant to the company, along with balance 90% of the issue price of Rs 340 a share of Rs 10 each.

Against each of the said warrant, the registered owner of the warrants shall be entitled to apply for and seek allotment of one equity share of Rs 10 each in the manner aforesaid, within the period of 18 months from the date of issue of the said warrants.

Other textile stocks that will surely left investors with good earnings in today’s session include Punj Woolcomber and Birla VXL.