Rain Commodities surges on Rutgers acquisition

Rain Commodities surged on Tuesday after Rain CII Carbon, a wholly owned subsidiary of the company has agreed to acquire Rutgers, a Belgium headquartered Coal Tar Pitch (CTP) manufacturer from funds advised by Triton.

Rain CII has executed share purchase agreement with Triton to acquire 100% of stake in Rutgers for gross enterprise value Euro 702 million.

Shares ofthe companyare trading at Rs 43.00, up Rs 1.75, or 4.24% at the Bombay Stock Exchange (BSE) on Tuesday at 10:19 a.m.The scrip has touched an intra-day high of Rs 44.05 and low of Rs 42.35. The total volume of shares traded at the BSE is 170,662.In the earlier session, the shares fell 4.51%, or Rs 1.95, at Rs 41.25. Currently, the stock is trading down 10.97% from its 52-week high of Rs 48.30 and above 58.96% over the 52-week low of Rs 27.05.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 43.90 (2.65) (6.04) 1 Month 38.50 2.75 7.14 3 Months 33.50 7.75 23.13 6 Months 38.75 2.50 6.45 1 Year 29.20 12.05 41.27 Note: Based on previous day closing price.