Rain Commodities : BSE ID : 500339 NSE ID : PRIYADCEM Reco Price Rs. 154.75 CMP: Rs.154.75 (Gain 0.00%)ain Commodities is presently ruling at Rs 154.75 which discounts its expected CY 08 earning by less than 2 times. It has potential to give a return of 100% in the next 18 – 21 months, with virtually no risk of fall from the present levels.
Rain Commodities has recently restructured its business by bringing in Cement and Calcined Petroleum Coke (CPC) business under its fold. The cement capacity of 1.50 Million TPA would rise to 3.16 million TPA by June 08 while CPC capacity is 2.44 Million TPA and is the world’s largest producer of CPC.
The company acquired CII of USA on 19-07-07 manufacturing 1.84 Million TPA of CPC with manufacturing facilities in Illinois, Louisiana, Missisipi and West Virginia for a cash purchase price of $ 595 million. CPC is a raw-material used in the production of aluminium and titanium dioxide and its raw-material is Green Petroleum Coke.
The merger of all the business took place from 1st April 07 and the company changed its accounting year to end on 31st December, every year. Hence, accounts for 9 months ended 31st December 07 were approved by the Board recently with business of CII, USA incorporated w.e.f. 19-07-07, from the date of its acquisition by the company.
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