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24 February, 2020 08:14 IST
Rain Industries jumps after commencement of operations of power plant
Source: IRIS | 26 Sep, 2016, 10.22AM
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Rain Commodities witnessed a sharp rise in share price on Monday after the company's wholly owned subsidiary company, Rain (Q,N,C,F)* Cements has commenced operations of waste heat recovery based power plant to generate up to 7 MW of gross electrical energy from the waste heat and the flue gases evolved during the Cement manufacturing process at Boincheruvupalli village, Peapully Mandal, Kurnool district in Andhra Pradesh.

The project was completed at a cost of Rs 700 million and the same was funded from internal accruals.

The process of waste heat generation is environmental friendly that will bring down the flue gas temperatures. The heat recovery from the flue gases not only saves large quantities of fossil fuels but also substantially reduces the cost of power generation.

Shares of Rain Industries  are trading at Rs 47.85, up Rs 2.75, or 6.10%  at the Bombay Stock Exchange (BSE) on Monday at 10:10 a.m.

The scrip has touched an intra-day high of Rs 47.90 and low of Rs 46.25. The total volume of shares traded at the BSE is 64,943.

Total volume of shares traded on the bourses today was lower by 59.14% to 273,315 compared with 22-day average volume of 668,842.

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