Rain Industries gains as subsidiary plans to build plant in Germany

Rain Carbon, a subsidiary of Rain Industries has stated that they will commence the construction of new resin polymerization and hydrogenation plant by the end of this month at Castrop-Rauxel, Gemany.

Rain Industries is a leading vertically integrated global producer of carbon based and advanced material products. The company is engaged in the manufacture and sale of carbon products, chemicals and cement. The company is focusing on delivery of advanced materials designed for lighter, faster and greener 21st century applications.

Rain Carbon's new Advanced Materials product segment will be of high importance to the company. The plant will have the capacity to produce up to 50,000 tons of resins per year.

The stock of Rain Industries hit an intraday high of Rs. 206 per share on the BSE and an intraday low of Rs. 193 per share. It recorded its 52-week high at Rs. 475 and 52-week low at Rs. 105 per share on the BSE.

At 1:14 pm the stock was trading at Rs. 205.20 per share, up by 1.21 per cent while S&P BSE Sensex traded at 35,405.19 level, up by 0.39 per cent and the Nifty50 traded at 10,700 level, up by 0.41 per cent.