Rane Brake Lining share price jumped 10 percent intraday on October 13 after the board of directors at its meeting scheduled on October 15 may consider proposal for buyback of equity shares.
The stock was trading at Rs 636.00, up Rs 54.95, or 9.46 percent. It has touched an intraday high of Rs 659.00 and an intraday low of Rs 625. It also witnessed spurt in volume by more than 9.05 times and was trading with volumes of 6,628 shares, compared to its five day average of 797 shares, an increase of 731.41 percent.
The Board of Directors at its meeting to be convened on October 15, 2020, is scheduled to consider a proposal for buyback of equity shares of the Company and matters connected thereto, the company said in an exchange filing.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long term moving averages. Company has zero promoter pledge and no debt.
Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.
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