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26-Jul2017

Praj Industries trades in green on the BSE

Praj Industries is currently trading at Rs. 78.75, up by 0.95 points or 1.22% from its previous closing of Rs. 77.80 on the BSE.

The scrip opened at Rs. 77.90 and has touched a high and low of Rs. 80.90 and Rs. 77.55 respectively. So far 101526 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 95.45 on 23-Aug-2016 and a 52 week low of Rs. 70.10 on 22-Nov-2016.

Last one week high and low of the scrip stood at Rs. 80.90 and Rs. 77.50 respectively. The current market cap of the company is Rs. 1412.25 crore.

The promoters holding in the company stood at 33.59%, while Institutions and Non-Institutions held 31.62% and 34.79% respectively.

Praj Industries and Gevo, Inc. (Gevo) have unveiled a new commercial opportunity in renewable bio-products, jointly announcing that Gevo's proprietary isobutanol technology will now be available for licensing to processors of sugar cane juice and molasses. This follows on the back of Praj's development work, adapting Gevo's technology to sugar cane and molasses feedstocks.

A joint development agreement and a development license agreement were entered into between Praj and Gevo in November 2015. The goal of these agreements was for Praj to adapt Gevo's isobutanol technology to using non-corn based sugars and lignocellulose feedstocks. The process technology development was performed at Matrix, Praj's R&D center located in Pune, India.

In the first phase of development, Praj worked with Gevo's technology using sugar cane and molasses feedstocks, undertaking test-runs in order to develop a process design package that will now be offered for commercialization to cane juice and molasses-based ethanol plants, as licensees of Gevo's isobutanol technology. Licensing is expected to be focused on Praj plants located in India, South America and South East Asia, with initial capacity targeted to come online in the 2019/2020 timeframe.


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