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Rain Industries shares rise as crude oil climbs on US-Iran tensions
The stock’s move follows Rain Industries reporting Q2CY26 revenue of ₹5,167 crore, up 14.3% quarter over quarter, alongside improvements in gross profit and margins.
Rain Industries shares jumped more than 4% on August 24, tracking a sharp rise in crude oil prices as escalating tensions tied to the US-Iran conflict drove volatility in global commodity markets, LiveMint Markets reported.
Crude prices stayed elevated amid renewed US sanctions on Iran and expectations of further restrictions, with Brent around $93 a barrel after gaining nearly 13% over the prior two weeks, and West Texas Intermediate near $86 a barrel.
Investors also looked ahead to details from the US administration on plans to increase economic pressure on Iran, including an expectation that US Treasury Secretary Scott Bessent would outline the measures at a press conference.
In company disclosures, Rain Industries said Q2CY26 revenue reached ₹5,167 crore, up 14.3% QoQ and 17.4% YoY, with gross profit rising to ₹2,450 crore, gross margin expanding to 47.4%, and Profit After Tax more than quadrupling to ₹341 crore. The company attributed growth primarily to its Carbon and Advanced Materials segments, while cement performance lagged.
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