Praj Industries hits an over decade high on strong growth outlook

The stock was up 6% at Rs 137, rallying 25% in first seven days of the calendar year 2019 and trading at its highest level since September 26, 2008.

Shares of Praj Industries hit an over decade high of Rs 137 per share, up 6%, on expectations of strong growth outlook. The stock has rallied 25% in the first seven trading days of the calendar year 2019. It was trading at its highest level since September 26, 2008.

Praj Industries had posted 2.5 times jump in its net profit at Rs 12.43 crore during the first half (April-September) of the financial year 2018-19 (H1FY19). Net revenue grew 12% at Rs 443 crore against Rs 394 crore in the corresponding period of previous fiscal. EBITDA (earnings before interest, tax, depreciation