Rane Holdings Ups Shareholding in SasMos to 45.24 Per Cent

Chennai: Seeking to step up its presence in the aerospace and defence sector, Rane Holdings has increased its shareholding in interconnection system and wiring maker SasMos HET Technologies to 45.24 per cent.

In September 2011, the Chennai-based Rane Group acquired a 26 per cent stake in the share capital of SasMos, making its foray in the aerospace and defence sector.

"The current further acquisition of 19.24 per cent in SasMos is from Lumipol International, a Netherlands-based company," Rane Holdings said in a filing to the BSE.

The company believed this to be a significant step towards enhancing its presence in defence and aerospace sector, it said.    

Shares in Rane Holdings, on Wednesday, ended at Rs 590 apiece on the BSE, up 1.20 per cent from the previous close.