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    Praj Industries shares touch 52-week high, jump over 17% on expansion of bio-energy basket

    Praj Industries shares touch 52-week high, jump over 17% on expansion of bio-energy basket

    Praj Industries shares touch 52-week high, jump over 17% on expansion of bio-energy basket
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    By CNBC-TV18  IST (Published)

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    Praj Industries shares gained more than 50% this month, while the stock returned more than 21% in the last one year.

    Shares of Praj Industries touched a new 52-week high of Rs 161.50, jumping 17.28 percent on Friday.
    The small cap stock jumped after the company expanded its bio-energy basket by adding compressed bio-gas (CBG) technology, outperforming the industrial equipment sector by 12.41 percent.
    CBG is a complementary renewable transportation fuel to compressed natural gas (CNG).
    "Praj's demo plant is first of its kind integrated CBG plant in the country. This flexible and highly instrumented plant will test, improve and optimise production of CBG from different feedstock such as biomass, press mud, variety of agri waste, paper mill pith etc," Praj said.
    Praj provides solutions for bio-energy, ethanol plant, and breweries and industrial wastewater treatment.
    The company's shares have gained more than 50 percent this month, while the stock returned more than 21 percent in the last one year.
    The 5-year and 10-year return on the stock stands at nearly 230 percent, 174 percent, respectively.
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