India's Rane Madras declines after weak Q3 results

Rane (Madras)

29/01/2024 07:39

** Shares of Rane Madras  RAMD.NS  down 7% at 764.95 rupees
    ** Steering and suspension products maker's Dec-qtr
consolidated profit falls 64%, revenue from operations declines
10.7% 
    ** Co says despite strong order book, continue to face
demand challenges on domestic segments  
    ** More than 46,000 shares change hands, 2.6x 30-day average
volume   
    ** Stock down 6.7% YTD, after a 99.3% climb in 2023 

    

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))