Rain Industries is currently trading at Rs. 119.00, up by 3.20 points or 2.76% from its previous closing of Rs. 115.80 on the BSE.
The scrip opened at Rs. 120.00 and has touched a high and low of Rs. 123.00 and Rs. 118.50 respectively. So far 97335 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 140.00 on 28-Jul-2017 and a 52 week low of Rs. 38.30 on 12-Aug-2016.
Last one week high and low of the scrip stood at Rs. 136.50 and Rs. 105.30 respectively. The current market cap of the company is Rs. 4068.10 crore.
The promoters holding in the company stood at 41.10%, while institutions and non-institutions held 22.37% and 36.53% respectively.
Rain Industries has received an approval for setting-up of Vertical Shaft Kiln Calcined Petroleum Coke (CPC) Plant to produce 370,000 tons per annum (TPA) in Andhra Pradesh Special Economic Zone (APSEZ), Visakhapatnam, Andhra Pradesh by Rain CII Carbon (Vizag), a step down wholly owned subsidiary company (RCCVL) to meet the increasing demand for CPC from Smelters in India and the regions around. The board of directors at its meeting held on August 11, 2017 has approved for the same.
The project will also include a Co-generation Power Plant of 15 MW to efficiently use the flue-gases from the Vertical Shaft Kiln CPC Plant. Vertical Shaft Kiln technology will enable RCCVL to meet the optimal quality specifications of its customers by blending CPC produced in RCCVL’s existing Rotary Kiln CPC Plant in Visakhapatnam, Andhra Pradesh, India. The estimated project cost is Rs 424 crore ($65 million). RCCVL is estimated to commence operations during First Quarter of 2019.
Besides, considering the increasing demand for Pitch from the customers, RAIN Carbon GmbH, a step down wholly owned subsidiary company is making additional investment of $17.0 million to debottleneck the existing Petro-Chemical Feedstock Distillation Facilities in Belgium and Germany to facilitate use of higher blends of Petro-Chemical Feedstock and Hard Pitch. The installed capacity would increase from 180,000 Tons per annum to 200,000 Tons per annum.
Further, the capacity utilization of such Petro-Chemical Feedstock Distillation Facilities would increase with construction of additional storage facilities and other infrastructure required. These Petro-Chemical Projects in Belgium and Germany are estimated to commence operations during December, 2018.