PremiumRain Industries share price has skyrocketed to the tune of 8 per cent in the intraday trade. However, if we look at its performance in 2021, Rain Industries shares have shot up to the tune of near 60 per cent. According to the Rain Industries share price history, Rain Industries shares had closed at ₹126.80 at NSE on 31st December 2020 while today it has made an intraday high of ₹199.20, which is close to its 52-week high of ₹200.90. According to stock market experts, this robust rise in Rain Industries stock price is due to the rise in its globally acclaimed product CPC in the international metal market. They said that the rally is on the speculation that its April to June quarter result will be positive.
Highlighting the reason for Rain Industries share price rally Avinash Gorakshkar, Head of Research at Profitmart securities said, "Rain Industries share price rally can be attributed to the rise in demand for its globally acclaimed product CPC (Calcined Petroleum Coke) in the international metal market. The company gets near 50 per cent of its business from the CPC business. So, this could be the reason for rise in Rain Industries stock price in the recent trade sessions as market is expecting strong quarterly numbers from the company next month."
Avinash Gorakshkar of Profitmart Securities went on to add that metal prices have almost doubled in the last one year and hence it has helped metal industry players and its vendor companies to grew faster, As Rain Industries supplied CPC to metal industries, the company has been getting margin benefit of the metal price rise.
Speaking Rain Industries share price target for immediate short-term Rohit Singre, Senior Technical Research Analyst, LKP Securities said, "Rain Industries shares have given breakout at ₹190. One can buy Rain Industries stocks at around ₹190 for the immediate target of ₹220 maintaining stop loss at ₹180. If someone is holding the stock, then he or she can hold the stock keeping trailing stop loss below ₹190 for this immediate target of ₹220."
Unveiling investment strategy in regard to Rain Industries stocks Ravi Singhal, Vice Chairman at GCL securities said, "Rain Industries trade volume has shot up from ₹215.56 crore to ₹338.64 crore in 2021 that reflects about the positive conviction brewing among the market investors. Its quarterly numbers are expected to grow further and its cement and chemical business is also expected to grow as unlock activities are fast catching. One should buy Rain Industries shares at around ₹190 maintaining stop loss at ₹148 for the target of ₹450 in one year time-frame."
Rain Industries share price all-time high is ₹475 that it had made on 1st January 2018.
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