Rain Commodities has seen a huge block deal of 8.7% stake in today’s trade. In a block deal on BSE, 62 lakh (8.8% equity) Rain Commodities shares changed hands at Rs 176 per share. Citi Fin Corp has exited the company. Rain Commodities is a holding company with strategic investment in other companies. It has 100% stake in cement manufacturing, Rain Industries. Rain Industries has 2 cement manufacturing units in Andhra Pradesh.
Rain Commodities is looking to exit cement business, says industry officials. Heidelberg, Italcementi & Lafarge are keen on picking up stake. Rel Cap Trustee holds 4.56% stake, Tata MF holds 1.8%, ML Capital Markets holds 2.79%, Deutsche Sec holds 2.08% and Morgan Stanley Mauritius holds 1.1% stake in the company.
Rain Commoditie touched a 52 week high of Rs 208.35 in today’s trade. The stock touched an intra day high of Rs 208.35 and an intra day low of Rs 176 and at 14:48 PM, the share was quoting at Rs 192.55, up Rs 17.40, or 9.93%, trading with volumes of 7,138,386 shares, compared to its 5-day average of 37,320 shares, an increase of 19,027.51%. Yesterday the share closed up 1.01% or Rs 1.75 at Rs 175.15.
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