Praj gains 6%, hits new high on healthy outlook; zooms 95% from 52-week low

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Praj gains 6%, hits new high on healthy outlook; zooms 95% from 52-week low - Business Standard

Quick Summary:

Praj is expecting a huge opportunity in bioenergy from international markets, including Brazil, Argentina and Paraguay, for corn-based ethanol.

The current revenues of Praj are close to Rs 3,400 crore annually, and the company has a goal to reach Rs 10,000 crore by the year 2030.

To cater to this demand, Praj has developed strong engineering capabilities in modularisation and has set up a dedicated advanced manufacturing facility at Mangalore in Karnataka with an investment of about Rs 400 crore.