Rain Commodities falls 5.2% on concern over Ruetgers acquisition

Rain Commodities pared all its early morning gain by falling over 5% on Tuesday on concern over large size acquisition of Rutgers, a Belgium headquartered Coal Tar Pitch (CTP) manufacturer from funds advised by Triton.

Rain CII, a wholly owned subsidiary of the companyexecuted 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 39.10, down Rs 2.15, or 5.21% at the Bombay Stock Exchange (BSE) on Tuesday at 1:40 p.m.The scrip has touched an intra-day high of Rs 44.05 and low of Rs 37.50. The total volume of shares traded at the BSE is 635,198.In the earlier session, the shares fell 4.51%, or Rs 1.95, at Rs 41.25. Currently, the stock is trading down 19.05% from its 52-week high of Rs 48.30 and above 44.55% 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.