Rally in Rane Holdings halts on profit booking

Rane Holdings lost 3.79% to Rs 1,799 at 15:07 IST on BSE, with the stock sliding on profit taking after recent stellar rally.

Meanwhile, the S&P BSE Sensex was up 6.06 points or 0.02% at 31,317.63. The S&P BSE Small-Cap index rose 32.06 points or 0.2% at 15,686.03.

On the BSE, 5,098 shares were traded on the counter so far as against the average daily volumes of 6,800 shares in the past one quarter. The stock had hit a high of Rs 1,898.80 and a low of Rs 1,794 so far during the day. The stock had hit a record high of Rs 1,949.90 yesterday, 19 June 2017 and a 52-week low of Rs 575 on 20 June 2016.

The stock had outperformed the market over the past one month till 19 June 2017, advancing 80.74% compared with the Sensex's 2.78% rise. The stock had also outperformed the market over the past one quarter, surging 101.04% as against the Sensex's 5.61% rise. The scrip had also outperformed the market over the past one year, spurting 218.53% as against the Sensex's 17.6% rise.

The small-cap company has equity capital of Rs 14.28 crore. Face value per share is Rs 10.

Shares of Rane Holdings galloped 66.48% in the preceding 14 trading sessions to settle at Rs 1,869.80 yesterday, 19 June 2017, from its closing of Rs 1,123.10 on 30 May 2017.

Rane Holdings' consolidated net profit spurted 98.9% to Rs 43.56 crore on 23.6% increase in total income to Rs 859.35 crore in Q4 March 2017 over Q4 March 2016.

Rane Holdings is the holding company of the Chennai-based Rane Group, an acknowledged leader in the manufacture of auto components.

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