Raymond: Gautam Singhania's separation from his wife cost Raymond dearly, market cap reduced by Rs 1500 crore

Pankaj Prasad
Raymond Chairman Gautam Hari Singhania
Raymond Chairman Gautam Hari Singhania

Raymond's shares have fallen by 12 percent in the last seven trading sessions. Due to this, the market cap of the company has reduced by about Rs 1500 crore.

The company's shares fell for the seventh consecutive trading session on Wednesday amid reports that Raymond Chairman Gautam Hari Singhania's estranged wife Nawaz Gautam Singhania is demanding 75 percent of his assets. Since the beginning of this controversy, the company's shares have fallen by 12 percent in the last seven trading sessions.

Due to this, the market cap of the company has reduced by about Rs 1500 crore. Let us tell you that earlier this month, Gautam Singhania had announced his separation from his wife Nawaz Modi. The company's shares closed at Rs 1,676 on Wednesday, down 66.45 (3.81%).