Praj Industries (Praj) shares jumped 11.25 per cent to Rs 62.3 on the announcement that the company has developed an innovative technology to manufacture ethanol. This is in addition to a patent it had applied for to produce ethanol from corn cob and sugarcane bagasse.
To commercialise this technology, Praj set up a cellulosic ethanol pilot plant and R&D centre, called Praj Matrix in Pune. The stock made an intraday high of Rs 63.6 and a low of Rs 55.1 with trading volumes of 20.38 lakh shares (about 3.5 times higher than its two-week average activity).
