Rane (Madras) Ltd jumps after $39-million deal for Hindustan Composites unit
01/07/2026 08:33
BUZZ-Rane (Madras) Ltd jumps after $39-million deal for Hindustan Composites unit ** India's Auto components maker Rane (Madras) Ltd's RAMD.NS shares jump 5.5% to 1,219 rupees
** RAMD to acquire Hindustan Composites' HFRD.NS friction business for 3.70 billion rupees ($39.06 million) in an all-cash sale
** Company says acquisition will create a friction materials business with over 10 billion rupees in revenue, making Rane the market leader across major segments
** Transaction will expand manufacturing scale, distribution network and R&D capabilities while adding the COMPO brand
** Trading vols at 319,507 shares vs 30-day average of 114,696 shares
** YTD stock up 52.7%
($1 = 94.7250 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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