Praj Industries surged 7.80% to Rs 51.80 after the company said its board will meet on 27 March 2020 to consider buyback of equity shares.
The announcement was made after market hours yesterday, 19 March 2020. The scrip witnessed bargain hunting after it corrected 46.64% in nine sessions to end at Rs 48.05 yesterday, from a recent closing high of Rs 90.05 recorded on 5 March 2020.
On a consolidated basis, Praj Industries net profit declined 7.85% to Rs 20.67 crore on a 9.07% fall in net sales to Rs 300.34 crore in Q3 December 2019 over Q3 December 2018.
Praj Industries is a global process solutions company driven by innovation and integration capabilities, offers solutions to add significant value to bio-energy facilities, Compressed biogas plants, critical process equipment & skids, brewery plants, Industrial wastewater treatment systems and HiPurity water systems.
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