The Small-Cap Stock Opened at 873.70 Against Its Previous Close of 863.80 and jumped 9.4 per cent to an intraday high 945.25. Around 2:25 pm, Rane (Madras) Share Price Traded Almost 8 per cent up at 932. Equity Benchmark Sensex was 0.22 per cent up at 83,941 at that time.
DURING MARKET HORS on June 27, The company said in an exchange filing that it has entred into an agreement with canopy living llp, which is a joint venture between astates & Housing Limited and Housing Limited and Housing Limited Estates Project Limited, to sell 3.48 acres of land in vete 361.18 Crore.
The company said this land monetisation will achieve twin objectives of redeucing debt and integrating City offices of Various Divisions to Further Unlock the Merger’s Long-Term Cost Synergies.
The total extent of land in Velachary is 4.50 acres. Rane (Madras) said it would retain the balance of the land, where a new office will be constructed.
Rane (Madras) is part of the rane group of companies, a Leading Auto Component Group Based Out of Chennai. The company claims to be a preferred supplier to Major Oms (Original Equipment Manufacturers) and the aftermarket in India and Abroad.
Rane (Madras) Manufactures Various Automotive Products, Such as Steering and Suspension Systems, Brake Components, Engine Components, and Light Metal Casting Components.
According to the company’s statement, it serves Various Industry Segments, Including Passenger Vehicles, Commercial Vehicles, Farm Tractors, Two -Wheles, Railgers, Reliers, Railways, Stationary engines.
Rane (Madras) Share Price Trend
Over the last five years, the small-cap stock has given a multibagger return of Nearly 300 per cent.
However, the stock’s performance over the last year has been mutted. It has gained just 4 per cent in the last one year, Hitting a 52-wheelk low of 577.95 on March 11 this year and a 52-wheek high of 1,525.75 on August 22 last year.
On a monthly scale, however, the stock has been in the green since March March. In June so far, the small-cap stock has gained about 3 per cent.
Read all market-Related news here
Disclaimer: This story is for educational purposes only. The views and recommendations about individual analysts or broking companies, not mint. We Advise Investors to Check With Certified Experts Before Making Any Investment Decisions, As Market Conditions Can Change Rapidly, and Circumstances May Vary.
Discover more from gautamkalal.com
Subscribe to get the latest posts sent to your email.
Be First to Comment