Praj Industries spikes up by 5 per cent

The stock of Praj Industries was buzzing on Monday following the announcement that the company is installing a pilot plant for CBG technology. Praj Industries was up by 5 per cent in the morning session.

The company aims to expand its bio-energy product segment with the commercialization of Compressed Bio-Gas (CBG) technology. It initiated the construction of an integrated demo plant for CBG at Shreenath Mhaskoba Sugar Factory, last week. Compressed bio-gas can easily replace Compressed natural gas (CNG) and Liquefied Natural Gas (LNG) for use in cooking and transportation. CBG produced from feedstocks such as agricultural waste, biomass and paper mill by-product can provide clean, renewable, alternative fuel for household, industries and transportation.

Praj's CBG technology is in-line with the government's aim to promote the adoption of sustainable alternative transportation fuels through the SATAT policy which envisages installation of 5,000 CBG plants in the next 5-year time frame.

On the bourses, the stock of Praj Industries has registered consecutive gains in the last two trading sessions. In the last week period, the stock has gained close to 30 per cent. At 11:31 am, Praj was quoting Rs. 156.80 per share, up by Rs. 5.00 or 3.29 per cent on Monday.