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Praj Industries gains on acquiring additional 10% stake in Neela Systems

20 Sep 2013 Evaluate

Praj Industries is currently trading at Rs. 38.65, up by 0.40 points or 1.05% from its previous closing of Rs. 38.25 on the BSE.

The scrip opened at Rs. 38.30 and has touched a high and low of Rs. 38.65 and Rs. 38.30 respectively. So far 2,092 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 54.50 on 05-Oct-2012 and a 52 week low of Rs. 30.00 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs. 40.00 and Rs. 37.00 respectively. The current market cap of the company is Rs. 685.00 crore.

The promoters holding in the company stood at 32.46% while Institutions and Non-Institutions held 13.81% and 53.73% respectively.

Praj Industries has acquired a further stake of 10% in its subsidiary Neela Systems for approximately Rs. 20.40 Crore. With this, the Company now holds 70% stake in Neela Systems at an approximate cost of Rs. 96.90 crore.

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

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