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Rane Holdings inches up on getting nod to invest in its subsidiary

  • Nov-08-2019
  • 15 Hrs IST

Rane Holdings is currently trading at Rs. 879.00, up by 0.50 points or 0.06% from its previous closing of Rs. 878.50 on the BSE.

The scrip opened at Rs. 880.00 and has touched a high and low of Rs. 903.90 and Rs. 879.00 respectively. So far 481 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1603.00 on 22-Apr-2019 and a 52 week low of Rs. 821.00 on 08-Aug-2019.

Last one week high and low of the scrip stood at Rs. 903.90 and Rs. 866.00 respectively. The current market cap of the company is Rs. 1256.52 crore.

The promoters holding in the company stood at 46.37%, while Institutions and Non-Institutions held 18.80% and 34.83% respectively.

Rane Holdings’ board has approved further investment in its subsidiary, viz., Rane (Madras) (RML), of upto Rs 50 crore, by way of subscription to equity shares and/or convertible securities (warrants), as part of the fund raising plans of RML. The Board of directors of the company at its meeting held on November 08, 2019 has approved for the same.

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 & information systems support.