India's Rane (Madras) gains on completing buy of Hindustan Composites' friction business

Hindustan Composites

21/08/2026 09:02

** Shares of Rane (Madras) RAMD.NS rise as much as 4.7% to 1,129 rupees 
** Auto components maker says it completed acquisition of Hindustan Composites' HFRD.NS friction business
** Adds, business will be integrated into Rane's brake components business
** Says acquisition is expected to be EPS accretive from the first year and create revenue and operational synergies
** Stock up 38% YTD

(Reporting by Payel Das in Bengaluru)
((Payel.das@thomsonreuters.com))