Rain Industries’ rises as its arm commences operations of waste heat recovery based power plant

26 Sep 2016

Rain Industries is currently trading at Rs. 46.45, up by 1.35 points or 2.99% from its previous closing of Rs. 45.10 on the BSE.

The scrip opened at Rs. 46.90 and has touched a high and low of Rs. 47.85 and Rs. 46.25 respectively. So far 31,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 49.50 on 09-Sep-2016 and a 52 week low of Rs. 26.05 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 47.90 and Rs. 44.00 respectively. The current market cap of the company is Rs. 1,564.00 crore.

The promoters holding in the company stood at 41.10%, while Institutions and Non-Institutions held 30.02% and 28.89% respectively.

Rain Industries’ wholly owned subsidiary company -- Rain Cements -- has commenced operations of Waste Heat recovery based Power Plant to generate up to 7 MW of gross electrical energy from the waste heat and the flue gases evolved during the Cement manufacturing process at Boincheruvupalli Village, Peapully Mandal, Kurnool District in Andhra Pradesh. The project was completed at a cost of Rs 70 crore and the same was funded from internal accruals.

The process of waste heat generation is environmental friendly that will bring down the flue gas temperatures. The heat recovery from the flue gases not only saves large quantities of fossil fuels but also substantially reduces the cost of power generation.

The company 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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Rain Industries Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323