Raymond stock dips 10% on offering JK House at 90% discount
Raymond shares plunged nearly 10% after advisory firm IiAS warned that a proposed property deal will cause a â¹650 crore loss to the firm. Under the deal, Raymond-owned JK House is being offered at 90% discount to Chairman Gautam Singhania. The property is reportedly the second-tallest private residence after Mukesh Ambani's Antilia. However, IiAS slammed the move as a "rip-off".