Praj Industries trades with traction on the bourses

Praj Industries is currently trading at Rs. 71.80, up by 0.95 points or 1.34% from its previous closing of Rs. 70.85 on the BSE. The scrip opened at Rs. 71.80 and has touched a high and low of Rs. 73.90 and Rs. 71.40 respectively. So far 1079045 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 79.15 on 05-Jun-2014 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. 79.15 and Rs. 69.60 respectively. The current market cap of the company is Rs. 1280.41 crore. The promoters holding in the company stood at 32.96% while Institutions and Non-Institutions held 13.92% and 53.11% respectively. Ace investor Rakesh Jhunjhunwala along with his wife has offloaded 8% equity stake in biofuel company Praj Industries through block deals on Thursday. While, Rakesh Jhunjhunwala sold 1.22 crore shares, representing 6.87% stake of the company at Rs 75.06 per share, Rekha Jhunjhunwala sold 20 lakh shares at a price Rs 75 per share on the BSE. Meanwhile, HDFC Mutual Fund has bought 1.1 crore equity shares of the company at Rs 75. In the quarter ended March 2014, Rakesh and his wife held 6.99% and 1.46% stake in the company, respectively. 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.