InvestorQ : How did Rain Industries suddenly attract interest of buyers in the market on 29 May?
indhumathi Sayani made post

How did Rain Industries suddenly attract interest of buyers in the market on 29 May?

Answer
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shrinidhi Rajan answered.
4 months ago


Rain Industries reported a 52% spike in EBITDA at Rs.558 crore in the Mar-20 quarter. EBITDA margin expanded 780 basis points to 19.3. The healthy performance was due to increased raw material and appreciation of USD versus the Indian Rupee. Rain saw net profits grow by23.8% to Rs.161 crore while net revenues declined by 9.3% at Rs.2882 crore. Covid-19 outbreak did not really impact the numbers of Rain. The stock was up nearly 15% in the day.