Rain Industries jumps on incorporating wholly owned subsidiary company
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Rain Industries is currently trading at Rs. 162.90, up by 12.00 points or 7.95% from its previous closing of Rs. 150.90 on the BSE.
The scrip opened at Rs. 152.50 and has touched a high and low of Rs. 164.60 and Rs. 151.95 respectively. So far 315241 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 175.35 on 26-Feb-2021 and a 52 week low of Rs. 55.90 on 07-Apr-2020.
Last one week high and low of the scrip stood at Rs. 164.60 and Rs. 144.05 respectively. The current market cap of the company is Rs. 5381.53 crore.
The promoters holding in the company stood at 41.14%, while Institutions and Non-Institutions held 15.65% and 43.21% respectively.
Rain Industries has incorporated a wholly owned subsidiary company namely ‘Rain Verticals’ on April 6, 2021. Rain Verticals is a Wholly Owned Subsidiary of Rain Industries incorporated to carry on the business of Vertical Farming, Research and Development for development of Vertical Farming and Lithium Ion High Energy Density Cells and undertake operations in Logistics.
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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