India's Rane (Madras) hits highest in over 4 yrs on Q4 profit

Rane (Madras)

05/05/2023 10:10

** Shares of Rane (Madras) Ltd  RAMD.NS  up as much as
11.89% to 547.7 rupees, their highest since Sept. 28, 2018
    ** Co hits sharpest intraday pct gain since Feb. 8, on track
for seventh consecutive session of gains if trends hold
    ** Steering and suspension linkages products manufacturer,
reported Q4 consol profit of 95.4 mln rupees ($1.17 mln) vs loss
of 25.4 mln rupees a year ago
    ** Revenue from operations rose 22.98% 
    ** About 774,323 shares changed hands as of 02:22 p.m. IST,
vs 31.9x 30-day average of 24,283 shares 
    ** Stock up 19.14% YTD as of last close
    

($1 = 81.7180 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))