Rain Industries announced that the 46th Annual General Meeting (AGM) of the company will be held on 10 May 2021.

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Net profit of Rain Industries rose 167.47% to Rs 306.95 crore in the quarter ended December 2020 as against Rs 114.76 crore during the previous quarter ended December 2019. Sales declined 6.72% to Rs 2640.23 crore in the quarter ended December 2020 as against Rs 2830.42 crore during the previous quarter ended December 2019.

For the full year,net profit rose 42.62% to Rs 558.17 crore in the year ended December 2020 as against Rs 391.38 crore during the previous year ended December 2019. Sales declined 15.34% to Rs 10464.69 crore in the year ended December 2020 as against Rs 12360.66 crore during the previous year ended December 2019.

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Pfizer Ltd, Gujarat State Fertilizers & Chemicals Ltd, Bharat Electronics Ltd, Trident Ltd are among the other stocks to see a surge in volumes on NSE today, 01 January 2021.

Rain Industries Ltd witnessed volume of 166.04 lakh shares by 14:14 IST on NSE, a 8.64 times surge over two-week average daily volume of 19.21 lakh shares. The stock increased 14.08% to Rs.144.65. Volumes stood at 16 lakh shares in the last session.

Pfizer Ltd witnessed volume of 5.21 lakh shares by 14:14 IST on NSE, a 7.45 times surge over two-week average daily volume of 69877 shares. The stock increased 3.74% to Rs.5,298.00. Volumes stood at 43908 shares in the last session.

Gujarat State Fertilizers & Chemicals Ltd registered volume of 46.39 lakh shares by 14:14 IST on NSE, a 4.08 fold spurt over two-week average daily volume of 11.36 lakh shares. The stock rose 5.54% to Rs.76.20. Volumes stood at 6.28 lakh shares in the last session.

Bharat Electronics Ltd witnessed volume of 550.97 lakh shares by 14:14 IST on NSE, a 3.24 times surge over two-week average daily volume of 170.19 lakh shares. The stock increased 6.09% to Rs.127.25. Volumes stood at 373.9 lakh shares in the last session.

Trident Ltd notched up volume of 554.2 lakh shares by 14:14 IST on NSE, a 3.16 fold spurt over two-week average daily volume of 175.13 lakh shares. The stock rose 8.59% to Rs.10.75. Volumes stood at 185.13 lakh shares in the last session.

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Rain CII Carbon, the wholly-owned step down subsidiary of Rain Industries, has completed the sale of its wholly owned subsidiaries namely RUTGERS Polymers, Canada and Handy Chemicals (U.S.A.) for an aggregate cash consideration of Rs 637.40 crore.

As a part of its strategy to achieve sustainable growth, create value for all stakeholders and reduce debt, the company has decided to divest the stake in these two non-strategic subsidiary companies, which are engaged in manufacturing and distribution of polynaphthalene sulfonates, under product-group naphthalene derivates, in advanced materials business segment.

The consideration received from the sale of above two subsidiaries will be utilized for repayment of debt and other general corporate needs of the company.

CPS Performance Materials Topco acquired RUTGERS Polymers, Canada for Rs 573.70 crore.

Handy Chemicals (USA) distributes Polynaphthalene Sulfonates manufactured by Ruetgers Polymers, Canada. CPS Performance Materials Topco acquired the company for Rs 63.70 crore.

CPS Performance Materials Topco does not belong to promoters group.

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.

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