India's Rain Industries falls most in more than a year after Q3 loss

Rain Industries

26/02/2024 04:44

** Shares of Rain Industries  RAID.NS  fall as much as 10.3% to
185.05 rupees, their biggest intraday pct loss since Sept. 2022
    ** Carbon and other advanced materials maker reported a Y/Y
consolidated net loss of 11.2 bln rupees ($135.2 mln) for the
Dec-qtr vs profit of 895.2 mln rupees a year ago
    ** Revenue from operations fell ~25% to 41.01 bln rupees
    ** More than 12 mln shares change hands by 10:08 a.m. IST,
matching its 30-day avg - LSEG data
    ** Stock on track for a second consecutive session of
losses, if trend holds

($1 = 82.8450 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))