Stocks

Praj Ind shares surge on pact with Oil Ministry

Chennai | Updated on November 23, 2020

Praj Industries share price climbed nearly 5 per cent today after the company signed a non-binding agreement with the oil ministry for multiple compressed bio-gas units.

"Praj Industries has signed a non-binding Memorandum of Understanding (MoU) with Ministry of Petroleum & Natural Gas in presence of Minister Petroleum & Natural Gas & Steel, on November 20, 2020 with the objective to facilitate technological support to the entities for setting-up and commissioning of multiple number of eligible and qualified CBG (compressed bio-gas) plants and their continuous operation for production of CBG and Organic Compost Manure under Sustainable Alternative Towards Affordable Transportation," the company said in an exchange filing.

At 12.40 pm, the stock was trading at Rs 85.20, up Rs 3.75, or 4.61 percent. It has touched an intraday high of Rs 86.45 and an intraday low of Rs 82.25.

The scrip also witnessed a spurt in volume by more than 4.27 times and was trading with volumes of 282,451 shares, compared to its five-day average of 93,136 shares.

Published on November 23, 2020

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