India's RattanIndia Enterprises jumps on Revolt Motors acquisition

Rattanindia Enterprises

07/10/2022 06:27

** Shares of RattanIndia Enterprises  RTNI.NS  rise as much
as 10.84% to 55.20 rupees, mark sharpest intraday pct gain since
Aug 17
    ** Co stock hits highest level since Sept 16 and on track
for a fourth consecutive session of gains
    ** Co said it will acquire 100% shareholding in electric
motorcycle company Revolt Motors  urn:newsml:reuters.com:*:nFWN3171IQ
    ** Co added it had earlier acquired 33.84% shareholding in
Revolt with an option to further increase the stake (https://bityl.co/Evq1)
    ** RTNI operates in electric mobility sector through Revolt
Motors
    ** More than 4.2 mln shares change hands vs 30-day avg of
2.6 mln shares
    ** Stock up 4.62% YTD, as of last close
 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))