India's Ram Ratna Wires rises after proposal to sell investment in RR Kabel approved

Ram Ratna Wires

12/04/2023 09:41

** Shares of Ram Ratna Wires Ltd  RAMR.NS  rise as much as
6.4% to 204.80 rupees
    ** Co approves proposal for sale of its equity investment
held in RR Kabel
    ** Proposal to offer for sale up to 1.36 mln shares held in
RR Kabel by participating in proposed IPO of the co
    ** Stock continues trading above its 50- and 100-day moving
averages
    ** Shares post their biggest intraday pct gain since April 6
    ** More than 132,500 shares change hands by 1:52 p.m. IST,
2.2x the 30-day avg
    ** Stock last up 5%, extending year to date gains to 21.3%

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((Dimpal.Gulwani@thomsonreuters.com;))