India's Rane(Madras) hits 18-mth high on Q3 profit

Rane (Madras)

08/02/2023 08:33

** Shares of Rane(Madras)Ltd  RAMD.NS  rise as much as 17% to 475 rupees,
their highest level since Aug. 4, 2021
    ** The steering and suspension linkages products maker's stock sees biggest
intraday pct gain since Dec. 28, 2022
    ** RAMD on Wednesday reported a consolidated Q3 profit of of 237.1 million
rupees ($2.87 million) vs a loss of 43.1 million rupees a year ago  urn:newsml:reuters.com:*:nFWN34N2FR
    ** Revenue from operations rose over 33% to 5.38 billion rupees 
    ** More than 249,000 change hands by 13:45 p.m. IST, 3.5x the 30-day avg
    ** Stock up ~ 8.4% in 2022
($1 = 82.5650 Indian rupees)
 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com;))