Praj Ind up 10%, to form JV with IOC for biofuel production capacities
Shares of Praj Production soared 10 per cent to Rs 405.90 on the BSE in Friday’s intra-day trade amid heavy volumes, in an otherwise subdued market, after the firm signed a term sheet with Indian Oil Corporation (IOC) to advance plans to strengthen biofuels production capacities in India.
At 11:07 AM, the stock was trading 8 per cent higher at Rs 400.20, as compared to 0.35 per cent decline in the S&P BSE Sensex. Trading volumes on the counter jumped over four-fold today with a combined 7.7 million shares having changed hands on the NSE and BSE till the time of writing of this report.
