Rain CII Carbon India (RCCIL), a wholly-owned subsidiary of Hyderabad-based cement manufacturer Rain Commodities, has concluded a deal with International Finance Corp (IFC) of the World Bank to sell 850,000 carbon credits.

Under the arrangement, the company will sell all the carbon credits it generates during July 12, 2007 to July 15, 2011.

Last month, Rain Commodities Ltd, producers of calcined petroleum coke and cement has notified that Rain CII Carbon has implemented `Oxygen Lancing' at its Indian calcinations plant.

In today's trading session, the scrip of Rain Commodities stock was finally settled the day at Rs 70 on BSE, up 9% compared to previous close of Rs 64. The stock hit an intraday high of Rs 67 and low of Rs 64.50.