Shares of Rane Brake Lining Ltd hit the upper circuit on NSE and BSE after the company reported a 28 per cent rise in its profit after tax for the January-March 2024 quarter at ₹15.4 crore.
The company recorded ₹12 crore PAT during the corresponding quarter of last year.
For FY24, the board has recommended a dividend of ₹30 per equity share on 77,29,871 equity shares of ₹10 each fully paid up, subject to approval of members at the ensuing 19th AGM of the company to be held on July 22, 2024. The dividend, if declared, will be paid on July 31, 2024/
On Friday’s trade, the company’s stock closed higher by 20 per cent at ₹1,021.40 (locked in upper circuit).