BOM:544420

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Arihant Capital Markets Starts Raymond Realty at Buy With INR1,025 Price Target

Raymond Realty Incorporates Wholly Owned Subsidiary

Real estate developer Raymond Realty (NSE:RAYMONDREL, BOM:544420) incorporated a wholly owned subsidiary, Ten X Realty South Ltd., on May 15, according to an Indian bourse filing on Saturday.Shares of the company rose over 1% in Monday's trade.The subsidiary has been set up to undertake real estate projects, including redevelopment projects, and to mitigate project-specific risks, the filing said.Raymond Realty subscribed to 10,000 equity shares of 10 each in the new entity, it added.

BOM:544420NSE:RAYMONDREL

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