Praj Industries' stock price up by more than 7% today

6 Oct 2022 , 02:48 PM

In intraday trade on Thursday, shares of Praj Industries rose 9% to a new high of Rs453.65 on the strength of high activity and expectations for robust order intake in the next quarters. On January 20, 2022, the stock reached a high of Rs448.25, which was now exceeded.

At 12:20 PM, Praj Industries quoted 8% higher at Rs448.15 a share, with an increase in average trading volumes of more than two times. The S&P BSE Sensex, in contrast, was up 0.66 % at 58,449 points. 5.41 million shares have been traded on the NSE and BSE together thus far. Process and project engineering are Praj's areas of expertise. The business serves both domestic and foreign markets. The business also offers engineering and design services.

Beyond the E20 aim, the business is still bullish about the ethanol market. The demand for ethanol is projected to increase as a result of a number of policy initiatives that are now being discussed, including flex-fuel cars, stationary diesel engine conversion to ethanol, the diesel blending program, and the export of ethanol under specific conditions. These bode well for ongoing ethanol consumption through the year 2025 (CY25), according to the business.

Aside from that, they also think that the completion of the first ethanol plant of the second generation will increase trust among potential developers on both a domestic and international level. "Compressed biogas (CBG) business ecosystem development is still ongoing in India. The rapid commissioning of the first commercial-scale CBG projects will show how the value chain functions from beginning to finish. This will facilitate the development of meaningful CBG capacity in accordance with the SATAT Policy "the management said.

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