Indian Oil Corporation Limited (IndianOil) and Praj Industries Limited (Praj) signed a term sheet to advance plans to strengthen biofuel production capacities in India. Various biofuels covered under this MoU include Sustainable Aviation Fuel (SAF), Ethanol, Compressed Bio-Gas (CBG), Biodiesel and Bio-bitumen among others.

According to the quarterly results, the net sales increased by 8.10 per cent, and the net profit increased by 163.90 per cent in Q4FY23 over Q4FY22. The net sales increased by 23.34 per cent in FY23 over FY22. The company reported a net loss of Rs 60.87 crore in FY23 compared to a net profit of Rs 10,145.77 crore in FY22.

Additionally, the order book position of the company as of April 1, 2023 stood at Rs 60,690 crore. Furthermore, the company declared a final dividend of Rs 0.60 per equity share (having a face value of Rs 1 each) on the enhanced share capital of the company post-bonus issue on Sept 15, 2022.

Shares of the company have jumped more than 85 per cent in the last one month.   

The stock has gained over 200 per cent in the last one year.   

The stock gained 19.36 per cent in the past 6 months and since it was listed on the BSE (July 14, 1995), it has gained more than 887 per cent.

Since the stock is listed on the exchanges (April 13, 2012) the stock gave multibagger returns of 465 per cent till today.

This PSU stock is up by 112.84 per cent in just 1 year whereas BSE Mid-cap Index is down by 1.55 per cent. 

The shares of this PSU company gave multibagger returns of 140 per cent from its 52-week low of Rs 29 per share.  

Since the stock is listed on the exchanges (April 13, 2012) the stock gave multibagger returns of 404 per cent till today.