Rane Holdings shares touch 52-week high of ₹822.25

Shares of Rane group of companies stole the limelight on Thursday even as the BSE Sensex ended the day with a marginal increase of about 38 points.

Rane Holdings Ltd. (RHL) saw an increase of ₹117.50, or 16.6%, per share and closed the day at ₹822.25 before touching a 52-week high of ₹838.15. There was spurt in trading volumes by more than 11 times.

Rane Brake Lining share price shot up by ₹34.40, or 4.94%, to close at ₹731.15. The spurt in volume was 9.77 times.

Rane Engine Valve shares gained ₹15.50, or 6.42%, to close at ₹256.75, while Rane Madras posted a marginal gain of ₹5.35, or 1.36%, to close at ₹397.95 on the BSE.

Company officials, who expressed surprise at the shares gaining, however, did not have any special announcement for the day.

While releasing RHL’s Q1 results, group chairman L. Ganesh said the group companies benefited from the favourable demand environment across the market segments.

“The demand environment in India looks encouraging for the upcoming quarter. We remain cautiously optimistic given the evolving economic situation globally,” he said.