Raymond Share Price Up Over 145% in 2026 So Far: Will the Rally in This Defence-Engineering Stock Sustain? Experts Views, Target
- October 26, 2026
- Posted by: Ankit Jaiswal
- Category: News
The Raymond share price closed at Rs 1,050 on Monday, 26 Oct 2026, against about Rs 425 at the start of 2026, a rise of roughly 147% from the 1 Jan close (my calculation). The stock hit an intraday high of Rs 1,101.60 after the board approved a new name, Raymond Aerospace, Defence & Engineering Limited, but it is still about 22% below its 52-week high of Rs 1,339 (my calculation). Gaurav Sharma of Globe Capital is positive on the business but advised against fresh buying after the doubling, while exchange data shows the stock under a long-term ASM framework.
Quick Answer
Whether the Raymond share rally can sustain depends on how fast the aerospace order book of over Rs 5,960 crore turns into revenue, because the stock now trades near 111 times trailing earnings against an industry level of 33 (data provider). The stock has already fallen about 22% from its 6 Oct high, the 14-day RSI is near 14, and the SuperTrend is on a sell signal, so the short-term trend is weak even though the one-year story is strong. I could not find a brokerage price target for Raymond, so this article shows levels and scenarios and not a target. It is educational and not a recommendation to buy or sell.
The Raymond share price has been one of the sharpest movers among small caps this year, rising from Rs 425.60 on 1 Jan to a record of Rs 1,339 on 6 Oct and then pulling back to Rs 1,050. The company is now an engineering business after it demerged its lifestyle and real estate verticals, and it earns from aerospace and defence components, precision tools and auto parts.
This article explains what drove the Raymond defence stock, what the latest results show, how the valuation looks, what experts have said and which price levels matter now. It is educational and not advice.
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Raymond Share Price Today: Where the Stock Stands After a 147% Rise
| Raymond share: measure (NSE, 26 Oct 2026) | Level | Comment (my calculation where marked) |
|---|---|---|
| Previous close (23 Oct) | Rs 1,063.40 | Third fall in a row before today |
| Day high | Rs 1,101.60 | Up 3.6% on the name change news |
| Day low | Rs 1,041.90 | Down 2.0% from the previous close |
| Close (daily candle) | Rs 1,050.00 | Down 1.3% on the day |
| Volume | About 7.13 lakh shares | Far below the 2.27 crore shares on 15 Sep |
| 1 Jan 2026 close | Rs 425.60 | Close of Rs 1,050 is up 146.7% from here |
| 52-week high | Rs 1,339.00 (6 Oct) | Close is 21.6% below |
| 52-week low | Rs 320.00 (30 Mar) | Close is 228% above |
Reports differ on the year-to-date figure. One report quotes about 151% at an intraday price, while the 1 Jan close of Rs 425.60 and the 26 Oct close of Rs 1,050 give 146.7% (my calculation). The headline numbers of Rs 425 and Rs 1,050 match the exchange data. One report also lists a 52-week low of Rs 1,051.10, which does not match the exchange low of Rs 320, so I use the exchange figure.
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How the Raymond Share Price Moved From Rs 425 to Rs 1,050
| Date (2026) | Raymond share close | Move (my calculation) | What the data shows |
|---|---|---|---|
| 1 Jan | Rs 425.60 | Start of the year | The base for the year-to-date figure |
| 30 Mar | Rs 321.85 | Down 24.4% from 1 Jan | Low of the year, intraday Rs 320 |
| 3 Sep | Rs 757.90 | Up 13.6% on the day | About 1.66 crore shares traded; reason not retrieved |
| 8 Sep | Rs 857.80 | Up 11.1% on the day | About 1.34 crore shares traded; reason not retrieved |
| 11 Sep | Rs 1,002.80 | Up 17.4% on the day | Same day as the reported order of about Rs 33 crore a year |
| 15 Sep | Rs 995.95 | Intraday high Rs 1,122 | Heaviest volume, about 2.27 crore shares |
| 24 Sep | Rs 1,203.85 | Up 8.0% on the day | Fresh highs |
| 5 Oct | Rs 1,300.70 | Up 8.6% on the day | One report gives Rs 1,304.35; ASM placement reported |
| 6 Oct | High Rs 1,339 | Record intraday high | Close Rs 1,294.30 |
| 26 Oct | Rs 1,050.00 | Down 21.6% from the high | After three weeks of selling |
Most of the gain in the Raymond share came in about five weeks. The Raymond share price rose from Rs 635.30 on 1 Sep to Rs 1,339 on 6 Oct, an increase of 110.8% in the high (my calculation), on volumes that were several times the normal level. Since 6 Oct the Raymond share has given back about 22% and has closed below the Rs 1,142 support that one technical analyst flagged on 5 Oct.
Why the Raymond Defence Stock Rallied: Aerospace Orders and a New Identity
The business behind the Raymond share changed in 2026. Raymond demerged its lifestyle and real estate verticals into Raymond Lifestyle and Raymond Realty, so Raymond Limited is now an engineering company with two parts: Precision Technology and Auto Components, which makes files, hand tools and auto parts, and Aerospace and Defence, which came through the acquisition of Maini Precision Products and is housed under JK Maini Global Aerospace.
Three pieces of news stand out for the Raymond aerospace orders story. In September 2026 the company said that JK Maini Global Aerospace was the successful bidder in a tender from a leading Indian aerospace and defence manufacturer to assemble wing structures and centre fuselage structures for a major indigenous fighter aircraft programme. A separate multi-programme order covers more than 300 part numbers and over 37,000 components a year, worth about Rs 33 crore annually at expected production rates, with production starting progressively in 2026 and 2027. On 24 Oct the board approved changing the name to Raymond Aerospace, Defence & Engineering Limited by a resolution passed through circulation.
The customers for the wing and fuselage tender and the Rs 33 crore order are not named in the sources I could retrieve. The Rs 33 crore figure is small against a market cap of about Rs 7,083 crore, so the larger driver for the Raymond share is the long-cycle order book and the expectation of faster growth, and not any single order.
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Raymond Share Fundamentals: What the Latest Quarters Show
| Raymond share: segment, Q1 FY27 (April to June 2026) | Revenue | EBITDA | Margin |
|---|---|---|---|
| Aerospace and Defence | Rs 123 crore, up 40.4% | Rs 26 crore | 21.2% |
| Precision Technology and Auto Components | Rs 444 crore, up 11.5% | Rs 61 crore, up 45.5% | 13.8% |
| Group | Total income Rs 628 crore, up 13% | Rs 100 crore, up 14% | 15.9% |
| Raymond quarterly trend (data provider) | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | Rs 563.71 crore | Rs 580.26 crore | Rs 612.51 crore | Rs 628.10 crore |
| EBITDA | Rs 79.27 crore | Rs 82.99 crore | Rs 85.07 crore | Rs 99.79 crore |
| EBITDA margin (my calculation) | 14.1% | 14.3% | 13.9% | 15.9% |
| Net profit | Rs 13.89 crore | Rs 7.10 crore | Rs 11.93 crore | Rs 30.85 crore |
| Net margin (my calculation) | 2.5% | 1.2% | 1.9% | 4.9% |
Revenue has risen in each of the last four quarters and net profit more than doubled from the March quarter to the June quarter (my calculation). A news report puts the Q1 FY27 profit at Rs 30.9 crore against Rs 20.6 crore a year earlier, an increase of about 50%. The data provider’s June 2025 profit is distorted by what looks like a one-off gain linked to the demerger, so I leave that quarter out of the trend.
On Raymond aerospace orders, the company has said that its order book is over Rs 5,960 crore across a ten-year horizon, with a further request-for-quotation pipeline of Rs 1,632 crore. The pipeline is potential business and not confirmed orders. A five-year capex plan of about Rs 1,000 crore covers aerospace and automotive capacity, including a new facility in Andhra Pradesh near Bengaluru airport. Q2 FY27 results are the next test, and I could not confirm the date.
Valuation of the Raymond Share: What the Price Already Reflects
| Raymond share: ratio (data provider) | Value | Reading |
|---|---|---|
| Market cap | Rs 7,083 crore | Up from about Rs 5,012 crore on 3 Sep in one report |
| Trailing P/E | 111.06 | Industry P/E is 33.12, so about 3.4 times (my calculation) |
| Earnings per share (trailing) | Rs 9.58 | At Rs 1,050 this gives about 110 times (my calculation) |
| Price to book | 2.49 | Book value of Rs 427.20 per share |
| Return on equity | 8.92% | Low against the multiple |
| Debt to equity | 0.37 | One brand-desk report calls the company debt-free |
| Dividend yield | 0.00% | No dividend in the trailing period |
The Raymond share looks expensive on trailing earnings, and that is an observation and not a recommendation either way. A multiple of 111 against a return on equity of 8.92% means that buyers of the Raymond share are paying for growth that the profit has not yet shown. The Raymond share can hold such a multiple only if the aerospace orders convert into revenue and margin, which is why investors watch the quarterly results closely.
Sources conflict on debt. The data provider shows a debt to equity of 0.37, while a brand-desk investment case reports a debt-free balance sheet with about Rs 68 crore of net cash. That piece is not independent research, and it is dated 3 Sep, so please check the latest balance sheet in the company filings.
What Experts Say on the Raymond Share Price Target and Outlook
| Expert or source | View on the Raymond share | Date |
|---|---|---|
| Gaurav Sharma, Globe Capital | Positive on the business, but advises against fresh buying after the doubling; suggests dips near Rs 900 to add | 15 Sep |
| Kranthi Bathini, WealthMills Securities | Aerospace is a “sunrise sector”; order book and earnings visibility support the long term; long-term investors can hold | 5 Oct |
| AR Ramachandran, Tips2trades | Bullish but overbought then; resistance Rs 1,450, support Rs 1,142, and a close below could lead toward Rs 964; advised booking profits | 5 Oct |
| Sahi commentary (partly AI-assisted) | Bullish on a 3 to 12 month view; overweight aerospace and defence | 23 Sep |
| Brand-desk investment case | Calls Raymond the group’s highest-conviction long-term compounder; states it is not a target price | 3 Sep |
I could not find a brokerage rating or Raymond share price target from a named research house, so I do not quote one. The views above split into a positive long-term view on the business and a cautious view on the Raymond share price after the rally. The Rs 1,142 support flagged on 5 Oct has already failed on a closing basis, and Rs 964 is 8.2% below the Rs 1,050 close (my calculation).
The brand-desk and syndicated pieces are company-friendly and not independent, so give them less weight than a named analyst’s note. Ask whether any Raymond share price target you see comes from a registered research analyst and whether it is dated after the 6 Oct high.
Technical Levels on the Raymond Share Price Now
| Raymond share: indicator (daily, 26 Oct) | Reading | Price vs level (my calculation) |
|---|---|---|
| 14-day RSI | 13.8 | Oversold reading |
| 20-day EMA | Rs 1,107.58 | Price 5.2% below |
| 20-day SMA | Rs 1,166.32 | Price 10.0% below |
| Bollinger lower band | Rs 1,035.63 | Price 1.4% above |
| Bollinger upper band | Rs 1,297.01 | Price 23.5% below |
| MACD against signal | 27.89 against 60.85 | Negative histogram of 32.96 |
| SuperTrend (10, 3) | Rs 1,256.76 | Sell signal; level is 19.7% above price |
| ADX with directional lines | 27.0; minus DI 29.1; plus DI 8.3 | A downtrend of moderate strength |
| ATR (14) | Rs 69.44 | About 6.6% of price a day |
The technical picture for the Raymond share is weak in the short term. The Raymond share price is under both moving averages, the SuperTrend is on a sell signal and the sellers’ directional line is far above the buyers’. The RSI of 13.8 is an oversold reading that I confirmed by averaging the last 14 daily changes, and an oversold stock can rebound, but it can also stay oversold in a downtrend.
Levels to watch above the Raymond share price are the day high of Rs 1,101.60, the 20-day EMA near Rs 1,107.58 and the Rs 1,142 former support. Levels below are the lower Bollinger band near Rs 1,035.63, Rs 964 from the technical analyst’s note and Rs 900, the dip area mentioned by Globe Capital. With an ATR of Rs 69.44, a move of 5% to 7% in a day is normal for this stock, so position size and stop-loss discipline matter. These are indicator readings and not recommendations.
Will the Raymond Defence Stock Rally Sustain? Scenarios, Not Targets
| Scenario for the Raymond share | What would need to happen | What to check |
|---|---|---|
| Rally resumes | Close above the 20-day EMA and SMA, with Q2 FY27 aerospace revenue growth above 40% and margins held | Aerospace margin of 21.2% and order conversion |
| Range-bound | Price holds between roughly Rs 1,035 and Rs 1,142 while results are awaited | Volume dropping toward 7 lakh shares, as today |
| Deeper correction | Close below Rs 1,035.63 and then Rs 964, with aerospace growth slowing | ASM framework and the trailing multiple of 111 |
These scenarios are conditions to watch and not predictions. The Raymond share has the business story, with aerospace revenue up 40.4% in Q1 FY27, but the price has also run far ahead of earnings. Whether it is a stock to buy depends on your time horizon, your tolerance for a fall of 20% or more in a few weeks and how much of your portfolio you can put in a single small cap.
Risks to Check Before Acting on the Raymond Share
- Valuation. A trailing P/E of 111 for the Raymond share against an industry level of 33 and a return on equity of 8.92% leaves little room for a miss.
- Surveillance. The Raymond share was placed under a long-term ASM framework by BSE and NSE, which signals unusual price moves and can lead to tighter trading conditions.
- Order conversion. The order book of over Rs 5,960 crore runs across ten years, and the Rs 1,632 crore pipeline is only potential business.
- Execution and concentration. Complex wing and fuselage assembly, long certification cycles and dependence on a few customers can delay revenue.
- Dilution. A reported preferential issue of 33.28 lakh warrants at Rs 645 each for about Rs 214.7 crore would add about 4.9% to the share count (my calculation, from the market cap); an EGM was scheduled for 3 Oct and I could not confirm the outcome.
Conclusion
The Raymond share price has risen about 147% in 2026 on the back of aerospace orders, a 40.4% jump in aerospace revenue and the shift to a pure engineering business, but it is already 22% below its October high, with weak technicals, a trailing P/E of 111 and an ASM listing. Experts are positive on the business and cautious on the Raymond share price, and no brokerage target was available, so check the Q2 FY27 results, watch the Rs 1,035 to Rs 1,142 zone and decide according to your own risk profile.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Which defence-engineering stock is up about 150% in 2026?
Ans. The headline refers to Raymond Limited, which is being renamed Raymond Aerospace, Defence & Engineering Limited. The Raymond share price rose from Rs 425.60 on 1 Jan 2026 to Rs 1,050 on 26 Oct 2026, a gain of about 147% (my calculation). Some reports quote about 151% using an intraday price.
Why did the Raymond share price rise so sharply?
Ans. The rise followed the company’s shift to engineering after the demerger and news on Raymond aerospace orders, including a wing and fuselage assembly tender for a fighter aircraft programme and an order of about Rs 33 crore a year. Aerospace revenue grew 40.4% in Q1 FY27, and the order book is over Rs 5,960 crore. Volumes were several times normal during the September run.
What is the Raymond share price target?
Ans. I could not find a Raymond share price target from a named brokerage, so I do not quote one. Experts have given views and levels: Globe Capital suggested dips near Rs 900 to add, and a technical analyst flagged resistance at Rs 1,450 and support at Rs 1,142 on 5 Oct. These are opinions and not forecasts.
Is the Raymond defence stock overvalued?
Ans. On trailing earnings the P/E is 111.06 against an industry level of 33.12, and the return on equity is 8.92%. That means that the Raymond share price already reflects strong growth. Whether it is overvalued depends on how fast the aerospace order book turns into revenue and margin.
Why did the Raymond share jump on 26 Oct?
Ans. The Raymond share rose as much as 3.6% to Rs 1,101.60 after the board approved changing the company’s name to Raymond Aerospace, Defence & Engineering Limited. It then gave up most of the gain and closed at Rs 1,050, down 1.3% on the day. A name change does not change the business by itself.
What are the main risks of the Raymond share?
Ans. The main risks for the Raymond share are the high valuation, the ASM surveillance framework, the long conversion period of the order book, execution on complex aircraft structures, customer concentration and possible dilution from the warrant issue. The stock has also fallen about 22% from its 6 Oct high. Check the filings and your own risk profile.
What are the key technical levels for the Raymond share price?
Ans. Above the price are Rs 1,101.60, the 20-day EMA near Rs 1,107.58 and Rs 1,142. Below are the lower Bollinger band near Rs 1,035.63, Rs 964 and Rs 900. The SuperTrend is on a sell signal, so these levels describe the current trend and are not recommendations.
Is this article investment advice?
Ans. No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.
