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11-Oct2018

Rain Industries touches the roof on the BSE

Rain Industries is currently trading at upper circuit of Rs. 175.40, up by 8.35 points or 5.00% from its previous closing of Rs. 167.05 on the BSE.

The scrip opened at Rs. 169.50 and has touched a high and low of Rs. 175.40 and Rs. 161.00 respectively. So far 98325 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 2 has touched a 52 week high of Rs. 475.50 on 09-Jan-2018 and a 52 week low of Rs. 148.65 on 08-Oct-2018.

Last one week high and low of the scrip stood at Rs. 175.40 and Rs. 148.65 respectively. The current market cap of the company is Rs. 5899.50 crore.

The promoters holding in the company stood at 41.10% while Institutions and Non-Institutions held 16.82% and 42.08% respectively.

Rain Industries' step-down wholly owned subsidiary -- Rain Carbon Inc. -- will resume shipments of petroleum coke to its Vizag calcining facility in Visakhapatnam, India. This follows an October 9 ruling by the Supreme Court of India that exempts calciners from the nation's recent ban on the importation of petroleum coke for use as fuel, which was enacted as part of the country's effort to reduce industrial emissions.

Rain Carbon uses green petroleum coke (GPC) as its primary feedstock in the production of calcined petroleum coke (CPC), which is an essential raw material in the anodes required during the electrolytic process of aluminum production. The company also imports CPC for blending at its Vizag facility. Under the Supreme Court's ruling, India's calcining industry will be permitted to import up to 1.4 million metric tons of GPC annually; the ruling also permits India's aluminum industry to use up to 500,000 tons of imported CPC per year.

Rain Industries is engaged in the business of manufacturing cement, Calcined Petroleum Coke (CPC) and power. It is the largest producer of CPC with a production capacity of 2.49 million tonnes per annum (MTPA).


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