Rane (Madras) tumbles after dismal Q3 result

Rane (Madras) declined 5.39% to Rs 390 at 14:02 IST on BSE, after net profit dropped 52.5% to Rs 2.52 crore on 21.1% rise in net sales to Rs 192.62 crore in Q3 December 2014 over Q3 December 2013.

The Q3 result was announced after market hours yesterday, 22 January 2015.

Meanwhile, the BSE Sensex was up 209.6 points, or 0.72%, to 29,215.28

On BSE, so far 3,407 shares were traded in the counter compared with the average daily volume of 1,178 shares in the past one quarter.

The stock hit a high of Rs 401.55 and a low of Rs 377 so far during the day. The stock had hit a record high of Rs 514.40 on 7 November 2014 and a 52-week low of Rs 122 on 27 January 2014.

The small-cap stock had underperformed the market over the past one month till 22 January 2015, falling 5.89% compared with the Sensex's 4.71% rise. The scrip also underperformed the market in past one quarter, sliding 14.64% as against Sensex's 8.28% rise.

The company has an equity capital of Rs 10.51 crore. Face value per share is Rs 10.

Rane (Madras) is a part of the Rane Group of Companies involved in the manufacture and distribution of steering and suspension systems. The main components manufactured by the company include Manual Steering Gear Products (SGP) and Suspension & Steering Linkage Products (SSLP). The other products include tie rod assemblies, drag link assemblies, center link assemblies and gear shift ball joints.

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