rane engine valve limited was formed after engine valves limited (evl) was merged with its 100% subsidiary engine components ltd (ecl) in the year 1999. the reverse merger, effective from fy99 is expected to benefit the new entity, reducing its tax liability, because of the carry forward losses of ecl. rane engine valve limited now has a more diversified product portfolio, absorbing the products of the 2 merging companies. it manufactured guides for internal combustion engines, engine camshafts and tappets, all catering to the automobile industry. the company is the largest manufacturer of engine valves in india with an 85% market share. the company was taken over by rane holdings limited and it was delisted from bombay stock exchange on 15 february 2008.