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Praj Industries advances on signing construction license agreement with Gevo

10 Apr 2019

Praj Industries is currently trading at Rs. 147.75, up by 9.90 points or 7.18% from its previous closing of Rs. 137.85 on the BSE.

The scrip opened at Rs. 142.60 and has touched a high and low of Rs. 148.65 and Rs. 142.60 respectively. So far 274845 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 168.00 on 07-Mar-2019 and a 52 week low of Rs. 72.50 on 06-Jul-2018.

Last one week high and low of the scrip stood at Rs. 149.00 and Rs. 136.25 respectively. The current market cap of the company is Rs. 2684.92 crore.

The promoters holding in the company stood at 33.01%, while Institutions and Non-Institutions held 32.77% and 34.22% respectively.

Praj Industries has signed a Construction License Agreement (CLA) with Gevo, Inc, USA dated April 4, 2019, to commercialize technology for the production of Isobutanol using sugary-based feedstocks, such as juice, syrup and molasses.

According to the CLA, the company will provide Engineering Procurement and Construction (EPC) services to 3rd parties using a process design package developed by Praj. This package uses Gevo's proprietary Isobutanol biocatalyst on sugary-based feedstock. Isobutanol derived from said proprietary process is high energy renewable intermediate product that finds application in Aviation and Racing cars.

To that effect, the company also signed a Memorandum of Understanding (MoU) with Gevo Inc. to commercialize Gevo's renewable hydrocarbons products. This includes Gevo's renewable alcohol-to-jet fuel (ATJ) and renewable isooctane, derived from Gevo's renewable Isobutanol.

Praj Industries is a Process Engineering and Technology Company offering innovative end-to-end solutions for biofuels, brewery, industrial processes & water and waste water treatment systems.

Related Praj Industries Ltd. Links:

Praj Industries Share Price

377.75 -8.55 (-2.21%) Jun 11, 18:01
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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