Rain Industries gains 9%, hits 52-week high on the back of heavy volumes

Shares Rain Industries hit a 52-week high of Rs 179.80, up 9 per cent on the BSE in the intra-day trade on Friday, on the back of heavy volumes. At 02:14 pm, the stock was trading 6 per cent higher as compared to a 0.35 per cent decline in the S&P BSE Sensex. It surpassed its previous high of Rs 175.35, touched on February 26.

Trading volumes on the counter jumped two-fold with a combined 15.6 million equity shares, representing 4.7 per cent of total equity of the company, changing hands on the NSE and BSE till 02:15 pm,