India's Rane Brake Lining snaps 4-day losing run on profit rise

Rane Brake Linings

22/07/2024 08:31

** Shares of Rane Brake Lining RABL.NS  rise 3% in above avg
vols 
    ** The brake lining maker said its Q1 profit increased 70.5%
y/y, EBITDA rose 47% 
    ** Stock set to snap four-straight session of losses
    ** In last four session, stock dropped around 9% 
    ** More than 100,000 shares traded as of 12:50 p.m. IST, 
2.5x the 30-day avg    
    ** Stock up 15% YTD after rising 17% in 2023 

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))