As many as 19,368 shares were traded in the counter on BSE.

The scrip of Rane Madras has dropped from a recent high of Rs 114.90 on 16 January 2007, to Rs 92.75 by 5 April 2007.

At the current market price of Rs 108, Rane Madras trades 9.05 times its Q3 December 2006 annualised EPS of Rs 11.93.

In November 2006, Rane Madras decided to set up a manufacturing facility in Uttaranchal, a tax incentive state, to supply steering gears exclusively to Tata Motors (TML). The company will set up its plant in TML’s vendor park at Uttaranchal.

Further, Rane Madras has informed that the initial investment for the project is expected to be around Rs 9.3 crore. The company will supply 250 units of steering gears per day to TML. The plant will enjoy certain tax benefits under the Income Tax Act, 1961.

Rane Madras manufactures auto components for two-wheelers, cars, tractors and large commercial vehicles.

Rane Madras registered a net profit growth of 6.70% to Rs 3.03 crore (Rs 2.84 crore) for Q3 December 2006. Net sales during the period rose 12.70% to Rs 81.68 crore (Rs 72.48 crore).