Rain Industries surged 6.76% to Rs 161.10 after the company said it has incorporated a wholly-owned subsidiary, Rain Verticals, on 6 April 2021.
Rain Verticals was 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 has invested Rs 10 lakh in cash for 100% stake of its newly incorporated company.
Rain Industries' consolidated net profit surged 164.7% to Rs 321.99 crore on 6.7% decrease in net sales at Rs 2,640.23 crore in Q4 December 2020 over Q4 December 2019.
Rain Industries is a vertically integrated global producer of a diversified portfolio of products that are essential raw materials. It operates in three business segments: carbon, advanced materials and cement.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app