FRANKFURT (dpa-AFX) - The shares of the armaments group Renk fell significantly on Friday following a cautious commentary by Oddo BHF on the valuation of the shares. Their price fell by 8.3 percent to 31.78 euros in the morning. The Oddo analysts wrote in their study that the valuation of the shares, which has risen sharply since the IPO, is difficult to justify in view of the growth expectations for the tank transmission manufacturer. Nevertheless, they are confident about the business prospects.

Like the shares of Rheinmetall and Hensoldt, Renk shares are winners of the armaments boom in Western countries, which was triggered by Russia's war against Ukraine and the Russian verbal aggression against NATO.

At the beginning of April, Renk shares reached a record high of almost 40 euros. The company only went public at the beginning of February - at a price of 15 euros per share. The financial investor Triton intends to retain the remaining unsold shares in the former Volkswagen subsidiary for the time being. As a rule, however, financial investors then gradually sell their holdings./mis/stw