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The Economic Times

Raymond shares rise 4% after former BEL chief joins defence business

Raymond BEL Bharat Electronics Gautam Singhania

Raymond shares rose nearly 4% on Monday after the company appointed former Bharat Electronics chief Bhanu Prakash Srivastava as the chief executive officer (CEO) of its defence business. The stock gained nearly 4% to hit an intraday high of Rs 632 on the NSE. It later gave up some gains and was last trading at Rs 622.5, up 2.4%.

Raymond said in an exchange filing that Srivastava has been appointed CEO-Defence as the company looks to expand in the defence and aerospace sector.

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