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Rane Brake Lining spurts on buyback plan

Capital Market 

Rane Brake Lining spurted 17.37% to Rs 682 after the company said its board will consider a share buyback on 15 October 2020.

The scrip has jumped 131.97% from its 52-week low of Rs 294 hit on 25 March 2020.

On a standalone basis, Rane Brake Lining reported net loss of Rs 6.89 crore in Q1 June 2020 compared with net profit of Rs 7.33 crore in Q1 June 2019. Net sales dropped 68.3% to Rs 36.80 crore in Q1 June 2020 over Q1 June 2019.

Rane Brake Linings manufactures and markets auto components for transportation industry.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, October 13 2020. 10:16 IST