New Delhi, Oct. 28 -- Multibagger defence stock Raymond retraced after jumping over 7% during the intraday session on Wednesday, amid weak sentiments in the Indian stock market.

Raymond share price opened at Rs.1,019 apiece on the NSE on Wednesday, against the previous close of Rs.1,081.20 on Tuesday. The multibagger defence stock initially rallied nearly 7% to hit an intraday high of Rs.1,160.50. However, it failed to sustain the gains and reversed course, falling over 3% to an intraday low of Rs.1,061.10.

Raymond reported a nearly 130% year-on-year (YoY) surge in consolidated net profit to Rs.32 crore in Q2 FY27, compared with Rs.13.9 crore in the corresponding quarter last year.

The company's revenue from operations grew 24.1% YoY t...