Praj Industries hits record high on strong order inflow hopes; stock up 9%

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)

Shares of Praj Industries climbed 9 per cent to hit a record high of Rs 453.65 in Thursday’s intra-day trade, on the back of heavy volumes and hopes of strong order inflow in the coming quarters. The stock surpassed its previous high of Rs 448.25, which it had touched on January 20, 2022.

At 12:20 PM; Praj Industries quoted 8 per cent higher at Rs 448.15 per share, over two-fold jumped in average trading volumes. In comparison, the S&P BSE Sensex was up 0.66 per cent at 58,449 points. A combined 5.41 million shares changed hands on the NSE