Meanwhile, the BSE Sensex was up 193.56 points, or 0.76%, to 25,683.13 .

On BSE, so far 43,000 shares were traded in the counter, compared with an average volume of 25,982 shares in the past one quarter. The stock hit a high of Rs 484.25 and a low of Rs 473 so far during the day. The stock hit a 52-week high of Rs 518.90 on 8 July 2015. The stock hit a 52-week low of Rs 351.50 on 12 February 2016. The stock had outperformed the market over the past one month till 13 May 2016, rising 16.51% compared with 0.54% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 28.25% as against Sensex's 10.89% rise.

The small-cap company has an equity capital of Rs 61.38 crore. Face value per share is Rs 10.

According to reports, Raymond is in talks with private equity firms, KKR & Co and Blackstone, to sell 20% stake in its branded apparel business to fund expansion. The minority stake sale will help expand the apparel business which faces stiff competition from Aditya Birla Group's Madura Fashion and Arvind Lifestyle, leading apparel makers in India, reports added.

With reference to the media report, Raymond clarified to stock exchanges that it continuously evaluates opportunities for enhancing stakeholders' value. However, at present no proposal has been finalised which would warrant disclosing the same to the stock exchanges. Whenever any proposal results into execution of documents, the company will inform the stock exchanges.

On a consolidated basis, Raymond's net profit rose 162% to Rs 56 crore on 7% growth in revenue to Rs 1541 crore in Q4 March 2016 over Q4 March 2015.

Raymond offers end-to-end solutions for fabrics and garmenting.