India's Rane (Madras) jumps after selling land in Chennai

Prestige Estates Projects

17/06/2025 10:45

** Shares of Rane (Madras) RAMD.NS jump 13.4% to 1,023 rupees, highest intraday pct gain since Aug 2024

** Auto components maker to sell surplus 3.48 acres land, out of total 4.5 acres, at Velachery in Chennai to Canopy Living LLP

** Land sale value will be disclosed after execution of definitive agreements

** Canopy Living LLP is a JV between Arihant Foundations & Housing and Prestige Estates Projects PREG.NS for real estate development in Chennai

** Trading volume at 317,389 shares, highest since Aug 2024 and 17.7x 30-day average

** RAMD up ~19% YTD

 (Reporting by Vijay Malkar)

 ((VijayDattaram.Malkar@thomsonreuters.com;))