Porinju had recommended Raymond as a buy on 16th February 2022. The stock is a part of his portfolio. It is up 65% since then. He had said that the stock is a better buy than the newly listed Manyavar because while Manyavar has a revenue of Rs. 800 Cr and a Mkt Cap of 23000 Cr, Raymond has a revenue of Rs 5600 Cr and a Mkt Cap of only 5000 Cr. The discount is only because of the perception about the promoters, he said.
Most of the newly listed, fancy-created businesses are over-valued while many listed old companies are under-priced and ignored, he added.