Rane Brake Lining EGM approves preferential issue

Rane Brake Lining Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 30, 2009, have approved the preferential issue of 700,000 equity shares of Rs 10/- each at a premium of Rs 40/- per share on a private placement basis to M/s. Nisshinbo Industries Inc., Japan.

The stock was trading at Rs.44.20, up by Rs.0.15 or 0.34%. The stock hit an intraday high of Rs.44.20 and low of Rs.44.20.

The total traded quantity was 100 compared to 2 week average of 1173.

Source : Equity Bulls

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