Rain Industries drops on profit booking

Rain Industries lost 1.37% to Rs 389.75 at 13:01 IST on BSE, with the stock sliding on profit booking after logging gains in prior four trading days.

Meanwhile, the S&P BSE Sensex was down 70.45 points, or 0.21% at 32,963.11.

On the BSE, 10.41 lakh shares were traded on the counter so far as against the average daily volumes of 8.11 lakh shares in the past one quarter. The stock had hit a high of Rs 398.90 and a low of Rs 380 so far during the day. The stock had hit a record high of Rs 402 yesterday, 13 November 2017. The stock had hit 52-week low of Rs 41 on 9 November 2016.

The large-cap company has equity capital of Rs 67.27 crore. Face value per share is Rs 2.

Shares Rain Industries had rallied 23.35% in the preceding four trading sessions to settle at Rs 396.40 yesterday, 13 November 2017, from its close of Rs 321.35 on 7 November 2017.

Rain Industries' consolidated net profit rose 93.68% to Rs 245.65 crore on 36.54% increase in net sales to Rs 3050.81 crore in Q3 September 2017 over Q3 September 2016.

Rain Industries is engaged in the business of manufacture and sale of carbon products, chemicals and cement.

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