Shares in Raymond fell nearly 5 per cent to a day low of Rs 464.1 on Thursday as its earnings disappointed investors.
The company reported a 26 per cent fall in its September quarter net profit.
Traders say investors took the opportunity to book profits after the stock surged 67 per cent so far this year.
As of 10.05 a.m. shares in Raymond traded 4.8 per cent lower at Rs 465 apiece underperforming the Nifty which was up 0.35 per cent.
Copyright: Thomson Reuters 2014
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