India's Praj Industries, Indian Oil up on signing JV

Praj Industries

07/07/2023 05:36

** Shares of Praj Industries  PRAJ.NS  rise as much as 5.95%
to 392.7 rupees, biggest pct gain since May 26
    ** PRAJ and Indian Oil Corp  IOC.NS  on Thursday said they
will form a joint venture (JV) for building biofuels production
capacities in India
    ** Shares of IOC rise as much as 2.7% to 98.9 rupees,
highest since Oct. 4, 2019
    ** Over 1.8 mln shares of PRAJ change hands in early
trading, while IOC volume around 9.4 mln shares
    ** PRAJ and IOC trading above their respective MACD lines,
indicating bullish sentiment
    ** As of last close, PRAJ up 4.1% and IOC up 28.9% this year

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))