Multibagger Stocks Tips: Praj Industries shares have performed brilliantly due to rising consumption in ethanol and the government's commitment to increase ethanol production. This stock has given about 300% return last year.
It has given 180% return in this year alone to date. The stock continued to give multi-bagger returns while reaching Rs 337 per share from the Rs 68 level in August 2020.
Praj Industries is associated with the domestic distillery and bravery installation business. This company headquarter is located in Pune. The company is a supplier of ethanol platins and is the world-leading company for work for sustainable solutions for bioenergy, high purity water, critical process equipment, breweries, and industrial wastewater treatments. The company has emerged more rapidly since the government focused on increasing ethanol production.
The change from an engineering company to renewable fuel and chemical as a solution provider has been good for Praj Industries. Analysts believe that the company will further gain more benefits for leadership in ethanol and biofuel technology.
Strong profits earned in June quarter
Praj Industries earned a net profit of Rs 22 crore in the quarter ended June, as against a net loss of Rs 10.5 crore in the corresponding quarter of the previous financial year. By operations, the company's revenue has increased from Rs 129.5 crore to Rs 386 crore during the same quarter last year.
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