Raymond Lifestyle shares slide 4% as Income Tax Department conducts survey at offices and units

Shares of Raymond Lifestyle came under pressure on Friday, September 26, sliding 4.2% to a low of Rs 1,200.55 on the BSE after the company disclosed that officials from the Income Tax Department had conducted a survey action at some of its offices and manufacturing units in India.

In a regulatory filing, the company stated, “We hereby inform that yesterday certain officials of the Income Tax Department visited some of the Company’s offices and manufacturing units in India for conducting a survey action under Section 133A of the Income Tax Act, 1961. The proceedings are underway and the Company is extending its full co-operation to the officials.”

The announcement weighed on investor sentiment, triggering a sell-off in the stock. Market participants said that tax survey actions often create uncertainty around potential financial or compliance implications, prompting near-term caution from traders and investors.

Raymond Lifestyle share price performance

Over the past year, the shares of Raymond Lifestyle have witnessed a steep decline, falling 49.62%, signalling a challenging period for investors. On a year-to-date basis, the stock remains deep in the red, down 41.59%, underscoring continued selling pressure through 2025.

However, the picture improves slightly in the shorter term — over the last six months, the stock has managed to gain 16.85%, hinting at a partial recovery from its earlier lows. The last three months and one month have both seen a 4.61% rise, suggesting that recent momentum has been slightly positive despite the overall longer-term weakness.

Around 2:40 pm, the stock was still trading 3.65% lower at Rs 1,207.60 on the BSE.Also read: Nazara Technologies stock price down 75%? Here’s what’s really happening(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)