Rane Brake Lining gains after strong Q2 outcome

Rane Brake Lining rose 2.63% at Rs 320.20 at 12:24 IST on BSE after net profit surged 123.6% to Rs 3.89 crore on 9.4% rise in net sales to Rs 109.22 crore in Q2 September 2015 over Q2 September 2014.

The company announced the result after market hours yesterday, 19 October 2015.

Meanwhile, the BSE Sensex was up 31.70 points, or 0.12%, to 27,396.62

On BSE, so far 5,543 shares were traded in the counter, compared with an average volume of 748 shares in the past one quarter.

The stock hit a high of Rs 324.20 and a low of Rs 316 far during the day. The stock had hit a record high of Rs 405.90 on 30 July 2015. The stock hit a 52-week low of Rs 260 on 10 November 2014.

The stock had outperformed the market over the past one month till 19 October 2015, surging 8.71% compared with Sensex's 4.37% rise. The scrip also outperformed the market in past one quarter, falling 2.1% as against Sensex's 3.86% fall.

The small-cap company has an equity capital of Rs 7.91 crore. Face value per share is Rs 10.

Rane Brake Lining said that the passenger car and multi-utility vehicles segment continued to maintain steady growth in Q2 September 2015 as against Q2 September 2014, due to improved market sentiments and also supported by new vehicle launches.

Rane Brake Lining is a leading auto components manufacturer of brake linings, clutch facings and disc pads.

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