Rain Industries came out of falling wedge pattern and made some handsome gains.
Counter is undergoing correction wherein price can fall to the levels mentioned.
Keep a eye .
Management informed in their last concall that they are exhausting high price GPC by this quarter.
From now onwards the blended price for GPC will be appx. 150 USD per ton against CPC price of appx 270 to 280 USD per ton. Also due to this reduction in price, company will have lower working capital requirements and the cash flow will become more positive.
IS THIS...
Roughly maintaining the last support line. In case of sudden spurt in momentum, it may see a level of 191 in intermediate term. There is also a chance that it will be consolidating till November'19.
Rain Industries Ltd. engages in the production of coal tar pitch, and manufactures calcined petroleum coke. It operates through the following segments: Carbon, Advanced Materials, and Cement. The Carbon Products segment converts the by-products of oil refining, into carbon based products. The Advanced Materials segment deals with downstream transformation of a portion of carbon output, petrochemicals and other raw materials into eco-friendly raw materials that are critical to the specialty chemicals, coatings, construction, automotive, petroleum and several other global industries. The Cement segment produces and markets portland cement and portland pozzolana cement consume by the civil construction and infrastructure industries within India. The company was founded on March 15, 1974 and is headquartered in Hyderabad, India.
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RAIN
