Shares of Raymond Group companies arere in focus after Managing Director Gautam Singhania suffered minor injuries in a speedboat accident on Friday. His team told NDTV Profit that he is “doing well,” offering a reassuring health update on Saturday. A spokesperson also confirmed that Singhania has been discharged from the hospital and has returned home.
Raymond Group companies saw significant declines, with Raymond Lifestyle leading the fall at 5.83%. The flagship Raymond entity also slipped 5.27%, while Raymond Realty dropped 5.02%. The broad‑based selloff across the group reflects heightened investor concern following recent developments involving the company's leadership and the ongoing situation surrounding the speedboat accident.
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The incident occurred on Friday near Felidhoo in the Maldives, where a speedboat carrying seven people — five Indians, a British national, and a Russian national — capsized. Singhania sustained minor injuries in the mishap. “Gautam Singhania suffered minor injuries following an unfortunate accident. He is recovering under due care in Mumbai. We thank you for the wishes and pray for the well-being of the affected friends,” his spokesperson said earlier.
ALSO READ: Gautam Singhania's Team Issues Key Health Update After Speed Boat Accident In Maldives — Details Inside
According to sources cited by NDTV Profit, Mahesh Ramchandran, captain of Singhania's sea vessel, remains missing, and search operations for both Hari Singh and Ramchandran are still underway. Jagdish Singh Aithani, who was also on the overturned boat, remains in the Maldives and has also sustained minor injuries. Meanwhile, Manik Bhimsen Bhardwaj, who was also on the boat, and Singhania have both returned to India.
According to Edition MV, which cited the Maldives National Defence Force, the Coast Guard's Malé Area Command Second Squadron is continuing search efforts for the missing individuals, with the accident reported to have taken place roughly two nautical miles southwest of Keyodhoo. Fulidhoo—part of the Vaavu Atoll and known for its serene island life, striking lagoons, and rich marine experiences—is a popular spot for divers and travelers.
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