Announced Tue, 30 Jun · 20:08 IST
Sells Friction Business for INR 370 Crore to Rane Madras via slump sale
HINDCOMPOS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+8.0%1-day move
₹424.00
prior close
₹450.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+7.7+7.1+7.2+6.7+8.0+5.7+2.8+2.7+3.5+3.4+1.9———
Up moveDown movePending
AI summary
Hindustan Composites to sell Friction Business Undertaking (auto, railway, industrial friction materials) to Rane Madras via slump sale for INR 370 Crore cash. The unit contributed 84% of FY26 turnover (INR 315 Cr) but only 7.50% of networth. Subject to shareholder approval via postal ballot. Completion expected by 30 Sept 2026. Not a related party deal. Company calls deal EPS-accretive and plans a special dividend from net proceeds.
Likely market impact
Major divestiture of core revenue business at a value-unlock price. Expected EPS-accretive with a special dividend likely from proceeds. Awaiting shareholder approval.