Among the Nifty 500 constituents, Tejas Networks (down 56 per cent), Praj Industries (down 54 per cent), and Vedant Fashions (down 52 per cent) were among the worst hit
IndusInd Bank, PG Electroplast, Five-Star Business, Cohance Lifesciences and Praj Industries have shed 20% in the last 7 months, while the Nifty and Nifty 500 have rallied up to 18%, shows data.
A cautious approach among participants in the domestic ethanol market, following the achievement of the 20% EBP target and pending new blending mandates, influenced performance in Q1FY26.
Muthoot Finance, Blue Star, Coromandel Fertilisers, Praj, Kaynes Technology, Lloyd Metals, IPCA Labs and Radico Khaitan were the 8 stocks to hit a new life-time high on January 1, 2025.
Since November 21, Praj's share price has rallied 28% after the company said it is eying opportunities in multiple sectors including SAF, biopolymers and the energy transition & climate actions (ECTA)
Among the key momentum oscillators - the MACD and Slow Stochastic are showing negative divergence on these smallcap stocks; hence caution is advised at these counters.
Outlook on Nifty smallcap stocks: Delta Corp, Eris Life, Praj and Usha Martin can rally up to 28 per cent, while Symphony may witness a corrective move in the near-term; suggests technical charts.
Stocks to watch on May 31: Swan Energy reported a decline in profit by 10.5 per cent year on year (Y-o-Y) to Rs 55.5 crore as against Rs 62.1 crore in Q4FY23
The central government has directed all sugar mills not to use sugarcane juice or syrup for making ethanol in 2023-24 season, as the sugar production expected to be down in this year.
Various biofuels covered under the memorandum of understanding (MoU) include sustainable aviation fuel (SAF), ethanol, compressed biogas (CBG), biodiesel, and bio-bitumen
Analysts believe that the company sounded positive about the strong order inflows in the coming quarters, given government's target to achieve 20 per cent ethanol blending by 2025 (EBP-20)
The Netherlands-based Circular Biobased Delta has approved Praj's Bio-bitumen samples processed from purified lignin, as a part of their flagship CHAPLIN program