Praj Industries share price: Shares of Praj Industries Limited have gained more than 11 percent in the last three trading days. Today on January 16, this stock is trading at Rs 773.20 on BSE with a rise of 3.91 percent. This buying is being seen in the shares of the company before the Union Cabinet meeting and its results. With today’s rise, the market cap of the company has increased to Rs 14,212 crore. The stock’s 52-week high is Rs 874.30 and 52-week low is Rs 448.
from the cabinet meeting Praj Industries What is the connection with the speed?
According to the news of CNBC Awaaz, a decision on increasing the prices of ethanol can be taken soon in the Union Cabinet meeting. According to sources, the price of B-Heavy Molasses may be increased by Rs 1.82 per liter. At the same time, the price of sugarcane juice is likely to increase by Rs 1.31 per liter. Sources also said that the price of C-Heavy Molasses is proposed to be increased by Rs 6.87 per liter from Rs 49.41 per liter to Rs 56.28.
Target of 20 percent ethanol blending
A target has already been set to increase ethanol blending to 20 percent by the end of the financial year. The figure of ethanol blending on petrol is currently 15.83 percent. Praj Industries is an engineering firm that provides solutions for distillery and brewery waste water treatment and utilization. The company is known for converting various sugar items like diluted/mixed juices/syrup/sugar or B-heavy molasses into ethanol.
All eight analysts covering Praj Industries have a “Buy” rating on the stock. Apart from Praj Industries, shares of distillery companies like GM Breweries, Tilaknagar Industries, Globus Spirits are also trading with gains of up to 4 per cent ahead of the Union Cabinet results.