New Delhi, June 27 -- Multibagger auto component stock Rane (Madras) jumped over 9 per cent in intraday trade on the BSE on Friday, June 27, after the company said it had entered an agreement to sell a land parcel in Chennai.

The small-cap stock opened at Rs.873.70 against its previous close of Rs.863.80 and jumped 9.4 per cent to an intraday high of Rs.945.25. Around 2:25 PM, Rane (Madras) share price traded almost 8 per cent up at Rs.932. Equity benchmark Sensex was 0.22 per cent up at 83,941 at that time.

During market hours on June 27, the company said in an exchange filing that it had entered into an agreement with Canopy Living LLP, which is a joint venture between Arihant Foundations & Housing Limited and Prestige Estates Project...