The stock of Raymond is in focus after reports of the company planning to sell its ColorPlus as well as Park Avenue brands. The stock has rallied 35 percent in 2022 and 131 percent in the last 12 months.

Speaking to CNBC-TV18, Sunil Kataria, CEO of Lifestyle Business at Raymond said reports of sale of ColorPlus and Park Avenue are speculative.

He said the board has approved the demerger of the apparel business which is managed by Raymond Apparels.

All the four brands which come under Raymond Apparels, which is Park Avenue, ColorPlus, Raymond Ready to Wear and Parx would become a part of the demerger, he said.

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