India's Rane Holdings rises on increasing stake in unit

Rane Holdings

02/03/2023 05:42

** Shares of Rane Holdings Ltd  RANE.NS  rise as much as
3.91% to 918 rupees, biggest pct gain since Feb. 13, 2023
    ** Automotive components maker said it acquired an
additional 2.19% stake in unit Rane Engine Valve  RAEV.NS  for
100 mln rupees ($1.2 mln)
    ** Co increased stake from 55.09% to 57.28%
    ** More than 10,800 shares traded by 10.56 a.m. IST, vs
30-day avg of 21,989 shares - Refinitiv data
    ** Stock up 0.8% so far this year after climbing 44% in 2022
    
    ($1 = 82.5650 Indian rupees)

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com; +91 8075473630;))