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Mumbai, June 24 Rane Engine Valve Ltd closed at Rs 146.10, according to the data available on the NSE, which is 25 per cent below its opening price of Rs 195 after it was re-listed. This was also the intra-day high the scrip touched, and it touched an intra-day low of Rs 125. A total of 16.78-lakh shares exchanged hands on the NSE.

On the BSE, too, the scrip closed below its opening price.

It opened at Rs 280, which is also the day’s highest. It touched an intra-day low of Rs 120.2 and closed 48 per cent below its opening price of Rs 144.25. A total of 20.51-lakh shares were traded on the BSE. Earlier, the manufacturing unit of Rane Engine Valves was demerged into a separate entity — Rane Engine Valve. The company was re-listed following the scheme of arrangement between Rane Engine Valves, Rane Brake Linings and Rane Holdings. According to the scheme, for every 100 shares held in Rane Brake Linings and Rane Engine Valves, shareholders were allotted an equal number of shares in the respective manufacturing companies.

In addition, the shareholders of Rane Brake Linings and Rane Engine Valves received 75 and 56 shares respectively in Rane Holdings.

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