Praj Industries moves up on signing MoU with Lygos to co-develop lactic acid yeast technology

17 Jun 2020 Evaluate
Praj Industries is currently trading at Rs. 64.80, up by 2.10 points or 3.35% from its previous closing of Rs. 62.70 on the BSE.

The scrip opened at Rs. 64.70 and has touched a high and low of Rs. 65.45 and Rs. 61.70 respectively. So far 72569 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 144.50 on 04-Jul-2019 and a 52 week low of Rs. 43.00 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 72.50 and Rs. 61.00 respectively. The current market cap of the company is Rs. 1150.26 crore.

The promoters holding in the company stood at 32.95%, while Institutions and Non-Institutions held 28.87% and 38.18% respectively.

Praj Industries and Lygos have signed a Memorandum of Understanding (MoU) to co-develop Lygos’s proprietary yeast for the production of lactic acid. As part of this MoU, Lygos will provide its proprietary yeast platform to Praj for jointly developing into various solutions for commercial applications.

Praj has already developed and offers bacterial fermentation technology to produce lactic acid and downstream products from sugary feedstock. Lactic acid is also used in food and beverages, in cleaning agents as well as in the electronic industry. Lygos will provide its innovative and high-performance technology, LP1 Ultra Yeast Platform and Carbon Sequestration Superhighway, which is well suited to produce acid compounds.

The company will assemble other segments of technology backed up by its expertise in process development, optimization, design scale-up and will further integrate lactic acid as a source material in to making Bioplastic, called as Polylactic Acid (PLA).

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.

Praj Industries Share Price

532.70 -5.90 (-1.10%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
BHEL 247.20
Bharat Electronics 201.45
Thermax 4168.00
Kirloskar Oil Eng 859.25
Praj Industries 532.70
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