India's Rane (Madras) slides as Q1 loss widens

Rane (Madras)

26/07/2023 09:16

** Shares of Rane (Madras) Ltd  RAMD.NS  fall as much as 7%
to 670 rupees, logging biggest intraday pct. loss since June 20,
2022
    ** Auto-parts maker says June-qtr loss more than quadrupled,
hurt by a one-time impairment charge for a unit and
warranty-related cost
    ** Co says a major customer announced recall of certain
vehicles for possible defects suspected in the steering systems
supplied by RAMD
    ** Trading volume at ~321,100 shares, 2.6X the 30-day avg of
~125,800 shares as of 1:25 p.m. IST 
    ** Stock last up ~74% YTD 
 

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))