Raymond shares jump as unit wins fighter aircraft wing tender; stock up 162% in 2026

Shares of Raymond Limited climbed 2 per cent in Wednesday's trade after the company said its aerospace & defence unit JK Maini Global Aerospace Limited emerged as successful in the tender process conducted by a leading Indian aerospace and Defence OEM for the assembly of wing structures and centre fuselage structures for a major indigenous fighter aircraft programme.

Following the development, the Raymond stock rose 2.26 per cent to hit a high of Rs 1,138.85, taking its year-to-date rise to 162 per cent.

After demerging its lifestyle and real estate verticals into independent entities, Raymond now has two core businesses within the Engineering vertical - Tools and Auto Components and Aerospace and Defence. Raymond’s engineering business manufactures files and hand tools. With the acquisition of Maini Precision Products Limited (MPPL) Raymond’s engineering business has forayed into Aerospace and Defence.

Raymond said the development marked Raymond’s proposed entry into the aircraft structures vertical, expanding its capabilities beyond precision manufacturing into complex, higher-value aircraft assemblies.

"Importantly, the programme is envisaged to leverage the customer’s existing infrastructure, enabling Raymond to develop capability and establish execution credentials while maintaining a capital-efficient approach," Raymond said.

Group CFO Rakesh Tiwary said the opportunity is strategically much larger than its immediate business potential.

"It provides Raymond an entry into the high-value aircraft structures segment while maintaining capital efficiency. More importantly, it gives us an opportunity to establish critical execution credentials that can position Raymond’s subsidiaries for participation in larger aerospace programmes in India and globally. Our focus will be on execution excellence and building this capability into a scalable growth platform.”