 "Praj Industries gains on bagging Rs 235 crore order from Petrobras")
Praj Industries has rallied 5% to Rs 75.20 on BSE after the company said it has bagged an order worth Rs 235 crore for oil & gas process skids from Brazilian oil &gas corporation Petrobras.
In this project, Praj will provide detailed engineering, procurement, manufacturing of skids along with all related equipment. The weight of individual skids ranges from 50 to 150 tons or even some of the units will be large, multi-storied skids.
Praj will manufacture these process skids as per ASME and Brazilian code requirements at it’s SEZ, in Kandla, in Gujarat. The facility is set up for heavy fabrication with separate shops for stainless steel and carbon steel fabrication. Praj’s CPES business has supplied equipment and skids to more than 15 countries worldwide in last 5 years.
The stock opened at Rs 74 and touched a high of Rs 75.80 on BSE. A combined 1.32 million shares changed hands on the counter in first 15 minutes of trading on BSE and NSE.
In this project, Praj will provide detailed engineering, procurement, manufacturing of skids along with all related equipment. The weight of individual skids ranges from 50 to 150 tons or even some of the units will be large, multi-storied skids.
Praj will manufacture these process skids as per ASME and Brazilian code requirements at it’s SEZ, in Kandla, in Gujarat. The facility is set up for heavy fabrication with separate shops for stainless steel and carbon steel fabrication. Praj’s CPES business has supplied equipment and skids to more than 15 countries worldwide in last 5 years.
The stock opened at Rs 74 and touched a high of Rs 75.80 on BSE. A combined 1.32 million shares changed hands on the counter in first 15 minutes of trading on BSE and NSE.