Praj Industries gained 8.1% to Rs 148.85 at 11:03 IST on BSE after the company announced ground-breaking of integrated demo plant of compressed bio gas.
The announcement was made after market hours yesterday, 10 January 2019.Meanwhile, the S&P BSE Sensex was down 30.15 points or 0.08% at 36,076.35
On the BSE, 10.94 shares were traded on the counter so far as against the average daily volumes of 15.09 lakh shares in the past one quarter. The stock had hit a high of Rs 150 and a low of Rs 137.50 so far during the day.
Praj Industries announced ground-breaking of integrated demo plant of Compressed bio-Gas (CBG). The company unveiled its roadmap for commercialization of CBG technology and reaffirmed its readiness by way of required infrastructure to execute multiple CBG plants with advanced technology and designs. CBG is a complementary renewable transportation fuel to Compressed Natural Gas (CNG). Praj's CBG technology is a major step in that direction.
Praj's demo plant is first of its kind integrated CBG plant in the country. This plant will test, improve and optimise production of CBG from different feedstock such as biomass, press mud, variety of agri waste, paper mill pith etc.
In the meanwhile for the conventional 1G ethanol business, Praj reported enhanced traction from their existing and potential customers on the back of additional feedstocks, attractive ethanol pricing and interest subsidies on loans.
On a consolidated basis, Praj Industries' net profit rose 88.61% to Rs 8.94 crore on 20.76% growth in net sales to Rs 251.03 crore in Q2 September 2018 over Q2 September 2017.
Praj Industries is a leading process solutions company with expertise in integrated offerings for bio-energy, high purity water solutions and engineering led businesses namely zero liquid discharge solutions, critical process equipment & systems and brewery plants.
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