The stock had risen 2.50% to Rs 143.40 on Thursday, 24 March 2011, after the company made this announcement during trading hours on that day.

Meanwhile, the BSE Sensex was up 183.40 points, or 1%, to 18,534.14.

On BSE, 14,399 shares were traded in the counter as against average daily volume of 24,418 shares over the past one quarter.

The stock hit a high of Rs 147.50 and a low of Rs 143 so far during the day. The stock had hit a 52-week high of Rs 218.95 on 7 April 2010 and a 52-week low of Rs 131.80 on 9 June 2010.

The stock has risen 4.9% in two trading sessions from a recent low of Rs 139.90 on 23 February 2011, boosted by the company's recent announcement on capacity expansion.

The mid-cap stock had underperformed the market over the past one month till 24 March 2011, declining 4.65% compared with the Sensex's return of 4.07%. The stock had also underperformed the market in past one quarter, falling 20.13% as against Sensex's decline of 8.58%.

The company has an equity capital of Rs 70.83 crore. Face value per share is Rs 10.

Rain Commodities had on 24 March 2011 said Rain Cements (RCL), a wholly owned unit, has commenced commercial operations at the Bellary unit with effect from 24 March 2011. Post commencement of commercial operations, the total production capacity of RCL will increase from 3.10 million to 3.50 million metric tonnes of cement per annum with improved fly ash blend ratio. The plant was set up at a cost of Rs 15 crore.

Rain Commodities has also said RCL has entered into a contract with Karnataka Power Corporation (KPCL) for sourcing fly ash. As per the terms of the contract, KPCL will exclusively supply up to four lakh metric tonnes per annum of fly ash to RCL for a period of 10 years, Rain Commodities said in a filing with BSE.

Rain Commodities' consolidated net profit plunged 61.8% to Rs 42.13 crore on 40.2% rise in net sales to Rs 1149.52 crore in Q4 December 2010 over Q4 December 2009.