India's Rane Engine Valve jumps as quarterly loss narrows

Rane Engine Valve

18/10/2022 09:05

** Shares of auto components manufacturer Rane Engine Valve
Ltd  RAEV.NS  rise as much as 10.25% to 253.85 rupees, their
highest since Sept. 22
    ** Co reports September-quarter loss of 400,000 rupees
($4,865.35) vs loss of 30.9 million rupees a year ago
    ** Revenue from operations rose to 1.23 billion rupees from
996.1 million rupees
    ** Stock posts its biggest intraday pct gain since Aug. 4
    ** Stock set to rise for a second straight session
    ** More than 27,143 shares change hands by 0756 GMT vs
30-day avg of 3,661 shares
    ** Stock down 17.87% YTD up to last close
($1 = 82.2140 Indian rupees)
 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))