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Brazil’s Randon Gains Most in Month After Record Sale

June 21 (Bloomberg) -- Randon SA Implementos e Participacoes, the Brazilian maker of specialty vehicles and auto parts, rose the most in more than a month after making a record sale.

Randon agreed to sell 1,150 Hopper railcars to MRC Solucoes em Logistica Ferroviaria Vnte-Al Ltda, according to a regulatory filing June 18 after markets closed. The transaction will boost Randon’s share in that market to 30 percent from 18 percent, and may lead the company to revise its sales guidance upward, according to Banco Santander SA.

“With this announcement, we indeed see a recovery of Brazil’s railcar market,” analysts including Daniel Gewehr wrote in a note to clients. Santander reiterated its recommendation to buy the shares.

Randon jumped 4 percent, the most since May 10, to 9.95 reais in Sao Paulo trading.

To contact the reporter on this story: Alexander Cuadros in Sao Paulo at acuadros@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos in New York at papadopoulous@bloomberg.net

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