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Rane (Madras) zooms on getting nod to set up Wholly Owned Subsidiary

28 Sep 2023 Evaluate

Rane (Madras) is currently trading at Rs. 884.85, up by 25.25 points or 2.94% from its previous closing of Rs. 859.60 on the BSE.

The scrip opened at Rs. 863.95 and has touched a high and low of Rs. 896.40 and Rs. 860.15 respectively. So far 1510 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 953.55 on 15-Sep-2023 and a 52 week low of Rs. 340.10 on 26-Dec-2022.

Last one week high and low of the scrip stood at Rs. 896.40 and Rs. 826.00 respectively. The current market cap of the company is Rs. 1432.64 crore.

The promoters holding in the company stood at 72.65%, while Institutions and Non-Institutions held 0.11% and 27.24% respectively.

Rane (Madras) has received approval for setting up of a Wholly Owned Subsidiary in Mexico viz., Rane Automotive Components Mexico S de R.L. de C.V. (RACM). RACM will establish a greenfield manufacturing facility to manufacture steering and linkage auto components catering to customers in Mexico and North American Region. The Investment Committee of the Board of Directors of the Company at its meeting held on September 28, 2023, 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.


Rane Madras Share Price

767.60 1.15 (0.15%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
SamvardhanaMotherson 125.00
Tube Investments 2789.65
Bosch 37505.60
UNO Minda 1097.30
CIE Automotive India 490.15
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