Praj Inds zooms 10% on UK firm deal

DALAL STREET SPIKES

Praj Industries surged 10 per cent to Rs 158.75 as British Sugar chose the company as its technology partner. Around 28 lakh shares were traded on the BSE compared with an average 9.74 lakh shares.

The stock, after remaining almost flat in the range of Rs 106.20 on 31 January and Rs 101.75 on 23 March, rallied to Rs 161.25 by 5 April. It again slipped to Rs 144.35 by 19 April.

British Sugar, UK's first bio-ethanol plant, has picked Praj Industries as its technology partner for a fuel programme based on increasing use of bio-ethanol for vehicles. The company beat many global players to clinch this deal on the back of lower cost factor and the its expertise in process technology, which converts sugar into bio-ethanol.

The company specializes in technology, design, engineering, manufacture and supply of equipment for distillery plants, ethanol plants, brewery plants & related effluent treatment plants. It is the owner of information related to various processes for the same.