Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd
"Rane Brake Lining Ltd announced buyback of share.The buyback by the Company of its fully paid up equity shares having a face value of Rs10 each, fully paid-up, for an aggregate amount not exceeding Rs22cr at a price not exceeding Rs825 per equity share which around 3.4% of total share. The Buyback shall be made from all shareholders of the Company (other than from the promoters and promoter group of the Company). The company has zero debt and Rs38cr cash."
Shares of RANE BRAKE LINING LTD. was last trading in BSE at Rs.678.25 as compared to the previous close of Rs. 640.4. The total number of shares traded during the day was 37336 in over 4436 trades.
The stock hit an intraday high of Rs. 715.45 and intraday low of 639. The net turnover during the day was Rs. 25543407.