Rane Holdings zooms 57% in twelve sessions

Rane Holdings jumped 8.39% to Rs 1,763.35 at 11:35 IST on BSE, with the stock extending recent strong gains.

Meanwhile, the S&P BSE Sensex was up 40.11 points, or 0.13% at 31,115.84. The S&P BSE Small-Cap index was up 58.76 points, or 0.38% at 15,704.65.

On the BSE, 6,675 shares were traded on the counter so far as against the average daily volumes of 4,854 shares in the past two weeks. The stock had hit a high of Rs 1,793.95 so far during the day, which is also its record high. The stock hit a low of Rs 1,640 so far during the day. The stock had hit a 52-week low of Rs 575 on 20 June 2016.

Shares of Rane Holdings surged 57% in twelve trading sessions to its current ruling price of Rs 1,763.35, from a close 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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