The board of directors of Rane Holdings, (Q,N,C,F)* at its meeting held on Oct. 29, 2008, approved voluntary delisting of 14,277,809 equity shares of Rs 10 each from Madras Stock Exchange (MSE).

The shares would continue to be listed in National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE).

The company registered a sharp drop in net profit at Rs 8.13 million for the quarter ended June 2008 from a profit of Rs 9.67 million for the quarter ended June 2007.

Shares of the company gained Rs 7.45, or 12.32%, to settle at Rs 68. The total volume of shares traded was 21 at the BSE (Wednesday).