Rane (Madras) corrects on profit booking

Rane (Madras) fell 3.95% to Rs 606 at 15:08 IST on BSE on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was up 3.86 points, or 0.01% to 33,565.41.

On the BSE, 12,000 shares were traded in the counter so far, compared with average daily volumes of 4,397 shares in the past one quarter. The stock had hit a high of Rs 643.75 and a low of Rs 597.35 so far during the day. The stock hit a record high of Rs 644 yesterday, 22 November 2017. The stock hit a 52-week low of Rs 383.25 on 23 November 2016.

The stock had outperformed the market over the past 30 days till 22 November 2017, rising 19.01% compared with 2.93% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 31.17% as against Sensex's 6.22% rise. The scrip had also outperformed the market in past one year, rising 49.98% as against Sensex's 28.83% rise.

The small-cap company has equity capital of Rs 11.61 crore. Face value per share is Rs 10.

Shares of Rane (Madras) surged 11.01% in a single trading session to settle at Rs 630.95 yesterday, 22 November 2017, after the company announced good Q2 results.

The stock rose 20.15% in five trading sessions to settle at Rs 630.95 yesterday, 22 November 2017, from its close of Rs 525.15 on 15 November 2017.

Net profit of Rane (Madras) rose 21% to Rs 8.40 crore on 21.5% rise in net sales to Rs 289.72 crore in Q2 September 2017 over Q2 September 2016. The result was announced during trading hours yesterday, 22 November 2017.

Rane (Madras) is engaged in the manufacture of components for transportation industry.

Powered by Capital Market - Live News