Rain Industries shines on getting approval for up-gradation of cement mill in AP

14 Aug 2018

Rain Industries is currently trading at Rs. 208.15, up by 9.90 points or 4.99% from its previous closing of Rs. 198.25 on the BSE.

The scrip opened at Rs. 205.95 and has touched a high and low of Rs. 208.15 and Rs. 195.20 respectively. So far 270771 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. 117.70 on 14-Aug-2017.

Last one week high and low of the scrip stood at Rs. 219.00 and Rs. 193.10 respectively. The current market cap of the company is Rs. 7001.04 crore.

The promoters holding in the company stood at 41.10%, while Institutions and Non-Institutions held 17.30% and 41.60% respectively.

Rain Industries has received approval for up-gradation of cement mill at Unit II, Boincheruvupalli Village in the state of Andhra Pradesh (AP), by Rain Cements, a wholly owned subsidiary of the Company, at a project cost not exceeding Rs 41.90 crore which will be funded through internal accruals and is expected to be completed by June 30, 2019. With the up-gradation, cement grinding capacity will increase from 2.033 million tonne to 2.795 million tonne. The Board of Directors of the company at their meeting held on August 14, 2018, approved the same.

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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Rain Industries Share Price

169.15 -6.55 (-3.73%) May 14, 18:01
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323