Rain Industries share price saw a robust surge of almost 6 per cent in today’s trading session. The share price made a high of Rs 48.20, from a previous closing of Rs 45.20, while opening at RS 46.20. The intraday low is Rs 46.20.
The surge was witnessed once Rain Industries’ wholly owned subsidiary company - Rain Cements - commenced operations of Waste Heat recovery based Power Plant which is expected to generate up to 7 MW of gross electrical energy from the waste heat as well as the flue gases evolved during the Cement manufacturing process at Boincheruvupalli Village, Peapully Mandal, Kurnool District in the state of Andhra Pradesh. The project was completed at a cost of Rs 70 crores and the same was funded from internal accruals.
This process of waste heat generation is environmental friendly and will bring down the flue gas temperatures. The heat recovery from the flue gases will not only save large quantities of fossil fuels but also substantially reduces the cost of power generation.
Rain Industries is engaged in the business of manufacturing cement, Calcined Petroleum Coke (CPC) and power. The Company is the largest producer of CPC with a production capacity of 2.49 million tonnes per annum (MTPA).
Today’s trading session has witnessed 4,55,613 shares of the Company exchanging hands on the NSE at 12.00 PM against the 20 days trading average of 4,17,899 shares. At the CMP of Rs 47.50, Rain Industries share price is trading very close to its 52 week high of Rs 49.50 made on 9th September 2016. The 52 week low of the share is Rs 25.50 made on 12th February 2016. The Upper Price Band of the share is 54.20 and the Lower Price Band is 36.20. Rain Industries is one of the multibagger stocks recommended by the research and analyst team of Dynamic Levels. Get the historical share price performance of the share atRain Industries share price history.
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