Praj Industries rose 5.19% to Rs 64.90 at 9:40 IST on BSE after consolidated net profit surged 284.39% to Rs 24.87 crore on 36.45% increase in total income from operations to Rs 265.04 crore in Q2 September 2014 over Q2 September 2013.
The result was announced after market hours on Thursday, 16 October 2014.
Meanwhile, the BSE Sensex was up 32.41 points, or 0.12%, to 26,031.75.
On BSE, so far 1.92 lakh shares were traded in the counter, compared with an average volume of 2.01 lakh shares in the past one quarter.
The stock hit a high of Rs 67.40 and a low of Rs 64.50 so far during the day. The stock hit a 52-week high of Rs 79.15 on 5 June 2014. The stock hit a 52-week low of Rs 37.50 on 29 October 2013.
The stock had underperformed the market over the past one month till 16 October 2014, falling 4.34% compared with 1.86% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 6.37% as against Sensex's 1.76% rise.
The small-cap company has an equity capital of Rs 35.49 crore. Face value per share is Rs 2.
"Praj continues to work upon internal and external levers for growth in various businesses. We have reported an encouraging operational performance during the first half of the fiscal. We will continue to focus on delivering sustained growth going forward", said Gajanan Nabar, CEO & MD, Praj Industries.
Praj Industries offers innovative solutions to significantly add value in bio-ethanol, alcohol, brewery plants, process equipment and water and wastewater treatment systems for customers worldwide.
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