Kataria is confident of business picking up in the second half of the current financial year thanks to two major factors.

“One is, this time, the wedding season is staggered, and it’s a prolonged period. So I think that, in a way, is good for the overall wedding industry. Secondly, while weddings are more urban-led, there are weddings which are going to happen in rural areas because the first half didn’t see rural weddings. There is a clear rural recovery, which is obvious to everybody. I think that is a second positive trigger,” the Raymond Lifestyle MD added.

Shares of Raymond Lifestyle Ltd. rallied as much as 2.7% to hit an intraday high of Rs 2,074 apiece on the NSE in morning trade on Tuesday, Nov. 19. However, the stock pared some early gains to trade at Rs 2,024.95 apiece, up 0.3%, on the NSE at 1:30 p.m., compared to a 1.23% jump in the benchmark Nifty.