Raymond Stock Check: Down 13% in November, should you buy now?

livemint.com:

Raymond has been in focus this month amid reports that Chairman Gautam Hari Singhania's estranged wife Nawaz Modi has demanded 75 percent of his fortunes. The couple announced separation earlier this month. Nawaz Modi, the estranged wife of billionaire industrialist Gautam Singhania, has come out with allegations of physical abuse against her husband.

In an exclusive interview with India Today, Modi claimed that she and her minor daughter, Niharika, were physically assaulted by Singhania. When approached for comment regarding these allegations, Singhania refused to comment, as per the report. "In the interest of my two beautiful daughters, I would like to maintain my family's dignity and I will refrain from offering any comment.

Please respect my privacy," he wrote in an email response, media reports said. As part of a family settlement after the couple's divorce, 53-year-old Modi has reportedly demanded 75 percent of Singhania's alleged $1.4 billion net worth for herself and her two daughters — Niharika and Nisa. Singhania has recommended creating a family trust and transferring the family's assets to it, with him serving as the only managing trustee, even though it is thought that he has generally consented to the demand.

The terms are reportedly unacceptable to Nawaz Modi. Promoters owned a 49.11 percent stake in Raymond as on September 30. At present, Nawaz is a Non-Executive Director at Raymond.

Gautam, on the other hand, is Chairman & MD. The stock has outperformed benchmark indices in the last one year. It has gained 16 percent in the last 1 year as against a 7 percent gain in Nifty.