If you compare FY24, Raymond, the lifestyle piece was about 3450 crore top line, whereas Vedant was about 1368 crore top line. And of course, the EBITDA margins were about 20.9% for Raymond’s branded lifestyle piece and do not forget that Vedant, you get, say, about 37-time EBITDA multiple as far as valuation is concerned and it is kind of expanding further. Under the circumstances, I think Raymond Lifestyle will be a stock to really-really watch out for.
Citi bullish on Indian equities, sees Nifty at 28,000 by end-2027
Citi Research projects that India’s benchmark Nifty 50 index could hit 28,000 points by the end of 2027. This forecast is based on strong earnings
November 9, 2026