India's Rane Holdings jumps as Q2 profit doubles

Rane Holdings

09/11/2023 07:21

** Shares of Rane Holdings  RANE.NS  rise as much as 11%,
before easing to a 5.5% increase
    ** Automotive components maker reported Q2 slightly more
than doubled, while rev from ops rose 5.6%
    ** EBITDA margin rose slightly to 7.8% from 7.6%
    ** Share price has been above their 50-day, 100-day and
200-day simple moving averages since Sept. 7
    ** Trading vol nearly 5x the 30-day daily avg
    ** Stock up ~38% YTD, closing in on 2022's 44.3% gain

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))