Sundaram Brake Linings Hits Upper Circuit

Shares of Sundaram Brake Linings Ltd., a TVS Group company, hit upper circuit of 20 percent intraday on Wednesday for the first time since August last year.

Trading volumes rose 42 times the 20-day moving average.

The stock has underperformed the broader market, gaining nearly 5 percent so far this year, compared to the 12.5 percent rise in the S&P BSE Sensex.

The company manufactures friction materials, including replacement brake parts for automobiles and other vehicles. Its current market capitalisation is around Rs 123 crore.