Rane (Madras) is currently trading at Rs. 420.15, up by 6.10 points or 1.47% from its previous closing of Rs. 414.05 on the BSE.
The scrip opened at Rs. 420.00 and has touched a high and low of Rs. 425.60 and Rs. 419.15 respectively. So far 2398 shares were traded on the counter.
The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 496.00 on 05-Mar-2021 and a 52 week low of Rs. 193.00 on 16-Oct-2020.
Last one week high and low of the scrip stood at Rs. 425.60 and Rs. 382.00 respectively. The current market cap of the company is Rs. 646.13 crore.
The promoters holding in the company stood at 71.14%, while Non-Institutions held 28.86% stake in the company.
Rane (Madras) has received an approval for the acquisition of the Steering Components Business (SCB) of Yagachi Technologies (YTPL), a part of Hical Group. The acquisition of Steering Components Business of Yagachi will enhance the company’s leadership position and share in the domestic passenger vehicle market and provide opportunity to enter export vehicle platforms to new geographies.
SCB manufactures steering and suspension components such as Inner Ball Joints (IBJ) and Outer Ball Joints (OBJ). The division’s major customers include Mando India, who in turn serve OEMs such as Hyundai, Kia, Mahindra, etc. SCB has a technical collaboration with a leading South Korean ball joint company. The Board of Directors of the company has on October 11, 2021, has approved the same.
Rane (Madras) is the manufacturer of steering & suspension systems for every segment of automobile industry, viz Passenger cars, Multi utility vehicles, Light commercial vehicles, Heavy commercial vehicles and Farm tractors.