India's Rain Industries jumps as apex court permits higher pet coke imports

Rain Industries

16/02/2024 05:54

** Shares of Rain Industries  RAID.NS  rise as much as 14.8%
to 207.5 rupees, hitting their highest level since April 2022
    ** India's Supreme Court allowed Rain Carbon SEZ, a unit of
the calcined petroleum coke producer (CPC), to import raw
petroleum coke (RPC)
    ** Court also allowed the annual import of total 1.9 
million metric tonne RPC for CPC manufacturers, up from 1.4 MMT
earlier 
    ** RAID sees busiest day ever, 33.5 million shares traded as
of 11:10 a.m. IST 
    ** Stock up ~35% YTD after falling ~10% in 2023


 (Reporting by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))