Shares of Raymond, a leading player in India's textile and apparel industry, have plummeted over 64% today.

However, the decline wasn't due to any bad news, but rather a technical adjustment related to the demerger of its real estate arm, Raymond Realty.

As of 11:20am IST, the stock was trading at ₹551.20, down from its previous close of ₹1,561.30.

A look at the stock adjustment
Technical shift

The sharp fall in Raymond's share price coincided with the ex-date of the demerger, when stocks stopped factoring in the value of its real estate business.

Today is the record date for determining eligible shareholders who shall receive shares of Raymond Realty, following the May 1 demerger.

Under this scheme, investors are set to receive one stock of Raymond Realty for every share held in Raymond Ltd.

Raymond Realty shows strong financial performance

Raymond Realty closed FY25 on a high note, with a revenue of ₹766 crore in the fourth quarter, a 13% year-on-year rise.

The booking value was ₹636 crore, led by projects such as The Address by GS 2.0, Invictus and Park Avenue - High Street Retail in Thane.

The business also posted an EBITDA of ₹194 crore with margins at 25.3% and a net cash surplus of ₹399 crore.