Praj Industries is literally on fire today, trailblazing to hit a new high at Rs.277.85, after opening itself pretty strong by 6.5% at Rs.265.20, which happens to be its intraday low.
The market is pretty enthused with its performance for Q4FY21. Its consolidated net profit more than doubled, went up 107% (YoY) to Rs,52 crore on the back of a 91% rise in revenue from operations at Rs.567 crore.
The company over the past couple of months has been receiving significant orders, especially from HPCL and Godavari Biorefineries.
India has set itself a target of achieving 20% ethanol-blending with petrol by 2025, and Praj being the largest ethanol equipment manufacturer, it seems to be on a roll currently.