Rane Group stocks rally; Rane (Madras), Rane Engine Valve up over 10%

Rane (Madras), Rane Engine Valve, Rane Brake Lining and Rane Holdings were up in the range of 12% to 18% on BSE in intra-day trade.

Shares of Rane Group companies rallied by up to 18% on BSE in intra-day trade on back of heavy volumes.

Rane (Madras) (up 18% at Rs 580), Rane Engine Valve (17% at Rs 679), Rane Brake Lining (14% at Rs 1,350) and Rane Holdings (12% at Rs 2,019) were up more than 10% on BSE in intra-day trade. On comparison, the S&P BSE Sensex was up 0.25% at 32,242, after hitting high of 32,258 in intra-day deal.

Rane (Madras) on Tuesday said that the allotment committee of the board of directors on September 11, 2017 has allotted 1.1