Rane (Madras) gains 3% on receiving NCLT's nod for scheme of amalgamation

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Rane (Madras) gains 3% on receiving NCLT's nod for scheme of amalgamation - Business Standard

Quick Summary:

Rane (Madras) is in the process of preparing the reply along with the necessary details, according to the filing.

The company has also received a show cause notice from Income Tax Department in connection with the ongoing assessment for the Financial Year 2021-22 (Assessment Year 2022-23).

Rane Madras is recognized for its high-quality products and strong partnerships with OEMs (Original Equipment Manufacturers) and Tier 1 suppliers.