India's Praj Industries hits record high on strong March-qtr results

Praj Industries

07/05/2021 06:46

** Indian process and project engineering company's
 PRAJ.NS  shares rise as much as 11.6% to a record high of
277.80 rupees 
    ** PRAJ on Thursday said its March-qtr consolidated net
profit more than doubled to 520.10 mln rupees ($7.06 mln), while
its consolidated rev. from ops also nearly doubled  urn:newsml:reuters.com:*:nFWN2MT18O
    ** "Activity levels (in qtr) have remained positively
elevated with continued traction in enquiries across several
business verticals including some significant order wins" - PRAJ
CEO & MD Shishir Joshipura 
    ** In the qtr, co won orders from Hindustan Petroleum Corp
 HPCL.NS  to set up a compressed bio-gas project in the state of
Uttar Pradesh, and from Godavari Biorefineries to set up
syrup-based ethanol plant in the state of Karnataka     
    ** More than 9.1 mln shares traded as of 0543 GMT, 2.2 times
their 30-day moving avg. of ~4.2 mln shares 
    ** Up to Thursday's close, stock had more than doubled in
value YTD



($1 = 73.6900 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))