Rane Holdings surges on acquiring additional stake in Rane Engine Valve
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Rane Holdings is currently trading at Rs. 905.00, up by 23.60 points or 2.68% from its previous closing of Rs. 881.40 on the BSE.
The scrip opened at Rs. 905.25 and has touched a high and low of Rs. 916.15 and Rs. 904.15 respectively. So far 383 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1049.00 on 14-Feb-2023 and a 52 week low of Rs. 556.00 on 21-Jun-2022.
Last one week high and low of the scrip stood at Rs. 939.55 and Rs. 875.30 respectively. The current market cap of the company is Rs. 1297.71 crore.
The promoters holding in the company stood at 46.57%, while Institutions and Non-Institutions held 2.45% and 50.97% respectively.
Rane Holdings has acquired 3,43,642 equity shares of face value Rs 10 each fully paid up (2.19%) for a consideration of Rs 9.99 crore (at an issue price of Rs 291.00 per equity share) in its subsidiary Rane Engine Valve (REVL) on conversion of 3,43,642 warrants (out of the total 5,15,463 warrants held by the Company) into underlying equity shares. The overall shareholding of the Company in REVL stands increased from 37,01,488 (55.09%) to 40,45,130 shares (57.28%). The balance 1,71,821 warrants are due for conversion on or before September 08, 2023.
Rane Holdings is the holding company of the Rane Group.
