Rane (Madras) Ltd up by 13.86% - Traders Corners | Espresso

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Espresso shot of the day – Rane (Madras) Ltd up by 13.86 percent

January 27, 2021
Espresso shot of the day – Rane (Madras) Ltd up by 13.86 percent

RANE MADRAS LTD 283.00 (+13.86%)   BSE – INE050H01012| 27th JAN 2021

Binge Chart Image

Rane (Madras) Ltd. was founded in 1929; headquartered in Chennai, India. Rane (Madras) Ltd. is a part of the Rane Group of Companies involved in the manufacture and distribution of steering and suspension systems. The main components manufactured by the company include Manual Steering Gear Products (SGP) and Suspension & Steering Linkage Products (SSLP)

Recent Drivers

  • Rane (Madras) Ltd. reported (Q3 FY21) net profit of Rs 5.50 crores against a net loss of Rs 7.2 crores in the year-ago quarter.
  • The company’s US subsidiary experienced a 13% drop in sales, impacted by lower vehicle demands in the US due to Covid-19 and lower volumes from key customers.
  • Rane Holdings has acquired 1,61,440 equity shares of Rs 10/- each fully paid up in its subsidiary Rane (Madras) Ltd. arising on conversion of balance outstanding 11,61,440 warrants out of the 17,42,160 warrants into underlying equity shares.
  • The overall shareholding of the Rane Holding in Rane (Madras) Ltd. stands increased to 91,22,838 shares (66.52%).
  • The Board of Directors of the company at its meeting held in December 2020 considered and approved further fund raising plan including by way of issuance of equity shares and / or convertible securities (warrants) to the Promoter / Promoter group up to Rs 60 crores on preferential basis.
(source- BSE, Business Standard, Investing.com)

Technical Force*

  • S&P BSE SMALL CAP month till date down by -0.52%
  • Spurt in volume by more than 21.04 times compares to previous day volume.
  • Quantity traded 22,660, 47.36% of delivery qty to trade qty. 3month avg volume is less than 50000.
  • Stock price has jumped more than 25% in 3 months low level – 192.5, OCT 30, 20
  • Daily RSI (14) crossed above central line 1 period ago
  • 52-week high – 301.90 | 52- week low – 130.00

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

575.15

458.25

363.80

246.90

152.45

35.55

-

-

Fibonacci Pivot

458.25

377.51

327.54

295.51

246.90

198.29

166.16

116.29

35.55


Today’s Close

283.00

SMA

BSE

10 DAY

260.57

20 DAY

263.26

50 DAY

246.25

200 DAY

217.94

Some Key Ratios (Source: BSE)

Market Cap: 355.28 crores

PE: 12.11

OPM%: 11.50

ROE%: -9.78

Prev. Close: 248.55


* Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.