Rain Industries share price rose over 4% on 24 August, driven by rising crude oil prices amid US-Iran tensions. According to reports from LiveMint, the stock gained as investors tracked developments in the energy market and their potential impact on industrial commodities and related sectors. Crude oil prices have remained high amid concerns about potential supply disruptions in the Middle East, especially in light of renewed US sanctions on Iran and the prospect of further restrictions. Brent crude slipped to around $93 a barrel after gaining nearly 13% over the past two weeks, while West Texas Intermediate (WTI) traded near $86 a barrel. Investors are awaiting further details of the US administration's plan to increase economic pressure on Iran, with US Treasury Secretary Scott Bessent expected to outline measures at a press conference.
According to the company's exchange filing, revenue for Q2CY26 stood at ₹5,167 crore, up 14.3% QoQ and 17.4% YoY, surpassing market expectations. As reported by LiveMint, growth was led by the Carbon and Advanced Materials segments, while Cement performance remained subdued. The company reported a 29.3% YoY and 17% QoQ increase in gross profit to ₹2,450 crore, with the gross margin expanding to 47.4%. EBITDA jumped 53.2% YoY and 38.4% QoQ to ₹964 crore, while the EBITDA margin improved to 18.7% from 14.3% in Q2CY25 and 15.4% in Q1CY26. Profit After Tax (PAT) more than quadrupled YoY to ₹341 crore, compared with ₹83 crore in Q2CY25 and ₹158 crore in Q1CY26, with PAT margin at 6.6%.
According to LiveMint reports, Carbon segment revenue increased 17.9% YoY to ₹4,021 crore, supported by stronger realisations and higher calcination volumes. Operating profit rose 33.6% to ₹773 crore, with the margin expanding to 19.2%. Advanced Materials revenue grew 26.3% YoY to ₹1,198 crore, driven by higher volumes in chemical intermediates and resins, with operating profit surging 190.5% YoY to ₹161 crore and the operating margin expanding to 13.4%. Cement revenue declined 8.9% YoY to ₹297 crore due to lower volumes amid intense competition in South India, but the segment returned to profitability with operating profit of ₹6 crore compared with a loss of ₹1 crore in Q1CY26.
The broader market showed positive momentum with Sensex rising 200 points and Nifty crossing 24,300 levels as oil prices moderated ahead of US sanctions on Iran. According to Geojit Investments, India VIX dropped more than 3% to 10.83 in morning trade, indicating reduced market volatility. Nifty Metal and Nifty IT gained nearly 1% each, while Nifty Pharma dropped around 1%. Market breadth turned positive with NSE recording 1,836 advances against 802 declines, and 189 stocks remaining unchanged. Technical analysts note that Nifty has formed a weekly Hammer candle, reinforcing key support levels and keeping the reversal setup intact. The index remains poised to extend recovery towards 24,317-24,380 levels in the near term, with the bias remaining positive as long as the 24,060-24,000 support zone is defended.
