Rane Holdings is currently trading at Rs. 1734.75, up by 123.70 points or 7.68% from its previous closing of Rs. 1611.05 on the BSE.
The scrip opened at Rs. 1630.40 and has touched a high and low of Rs. 1734.75 and Rs. 1630.40 respectively.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1949.90 on 19-Jun-2017 and a 52 week low of Rs. 695.00 on 15-Nov-2016.
Last one week high and low of the scrip stood at Rs. 1734.75 and Rs. 1530.95 respectively. The current market cap of the company is Rs. 2,410.00 crore.
The promoters holding in the company stood at 46.39%, while Institutions and Non-Institutions held 16.30% and 37.31% respectively.
Rane Holdings, the holding Company of Rane group, has received an approval for acquisition of 70% shareholding in Bengaluru-based Telematics4U Services (T4U). Founded in 2009, T4U offers customized analytics-rich end-to-end telematics solutions for various transportation and asset tracking requirements in India and other countries across South Asia, Middle East and Africa.
The company will pay Rs 1.17 crore for acquiring 70% equity shareholding through subscription to fresh issue of shares and share purchase from existing shareholders. In addition, the company plans to invest about Rs 27 crore over the next two years to scale up operations as it sees high revenue visibility and significant growth potential at T4U.
Rane Holdings (RHL) is the holding company of Rane Group. RHL owns the trademark in Rane and provides a range of services to group companies. These include employee training and development, investor services, business development and Information systems support.
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