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Rane (Madras) Ltd.

BSE: 532661 Sector: Auto
NSE: RML ISIN Code: INE050H01012
BSE 09:33 | 29 May 201.25 5.30
(2.70%)
OPEN

205.05

HIGH

205.15

LOW

201.25

NSE 09:29 | 29 May 203.70 6.75
(3.43%)
OPEN

196.90

HIGH

206.95

LOW

194.00

OPEN 205.05
PREVIOUS CLOSE 195.95
VOLUME 150
52-Week high 389.00
52-Week low 130.00
P/E 13.55
Mkt Cap.(Rs cr) 253
Buy Price 201.40
Buy Qty 6.00
Sell Price 203.50
Sell Qty 1.00
OPEN 205.05
CLOSE 195.95
VOLUME 150
52-Week high 389.00
52-Week low 130.00
P/E 13.55
Mkt Cap.(Rs cr) 253
Buy Price 201.40
Buy Qty 6.00
Sell Price 203.50
Sell Qty 1.00

Rane (Madras) Ltd. (RML) - Company History

Rane (Madras) Ltd, a part of the Rane group, is a manufacturer of steering and suspension systems. The company operates under one division, namely components for transportation industry. They manufacture two types of steering gears, namely, circulating ball type steering gears, and rack and pinion type steering gears. The other products include tie rod assemblies, drag link assemblies, center link assemblies and gear shift ball joints. The company is a subsidiary company of Rane Holdings Ltd. The company is having their manufacturing facilities located at Chennai and Kancheepuram in Tamil Nadu, Mysore in Karnataka, Thirubuvanai in Pondicherry and Pantnagar in Uttarakhand. The production facilities in Mysore cater to the tractor and commercial vehicle segment; the Pondicherry plant to the passenger car segment; the plant in Chennai caters to the light commercial vehicle, heavy commercial vehicle and utility vehicle segment; the Kancheepuram plant to the export market and the manufacturing facility in Pantnagar (Uttarakhand) supplies gears exclusively to Tata Motors Ltd. Rane (Madras) Ltd was incorporated on March 31, 2004 as a public limited company with the name Rane Holdings Ltd. The name of the company was subsequently changed to Rane (Madras) Manufacturing Ltd with effect from February 22, 2005. In April 2005, the manufacturing undertaking of the erstwhile Rane (Madras) Ltd was de-merged and transferred to the company with effect from July 1, 2004. In terms of the scheme, the de-merged company was renamed as Rane Holding Ltd and the name of the company was changed from Rane (Madras) Manufacturing Ltd to Rane (Madras) Ltd with effect from May 19, 2005. During the year 2005-06, the company increased the production capacity of Steering gear products from 590,300 Nos to 597,500 Nos. During the year 2006-07, the company set up a new plant for manufacture of ball joints in Ambakkam, Varanasi Village, Kancheepuram primarily to cater to the export markets. They commenced commercial production during the year. They also set up a manufacturing facility at Integral Industrial Estate, Pant Nagar, Uttarakhand, for supply of Steering Gears exclusively to Tata Motors Ltd. Rane Holding Ltd made additional investment in the company, and thus the company became a wholly owned subsidiary of the Rane Holdings Ltd with effect from March 26, 2007.