India's Rane Engine Valve hits 1-mth high on issuing shares worth 50 mln rupees

Rane Engine Valve

28/06/2023 05:13

** Shares of auto components manufacturer Rane Engine Valve
 RAEV.NS  rise as much as 2.1% to 297 rupees, highest since May
18
    ** Co said late on Tuesday that it issued shares worth
almost 50 mln rupees (nearly $610,000) at issue price of 291
rupees apiece
    ** Stock on track to rise for third straight session, if
gains hold
    ** Over 6,000 shares change hands as of 9:33 am IST, 0.7X
the 30-day moving average
    ** Stock up 25.7% YTD as of last close
    
($1 = 81.9760 Indian rupees)

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))