Praj Industries Share
Praj Industries Share
Fueled by Joint Venture Excitement
IOC and Praj Industries have agreed to a term sheet in order to go on with plans to increase India’s capacity for producing biofuels,
the firm announced in a filing with the stock market on Thursday.
Both organizations have previously worked together to promote a greener future.
The corporate statement lists ethanol, compressed bio-gas (CBG), biodiesel, bio bitumen, and sustainable aviation fuel (SAF) among the numerous biofuels covered by this MoU.
Both businesses had agreed to create a 50/50 joint venture for this purpose in an agreement that was signed in October 2021.
Biofuels
The nation has ambitious intentions to add biofuels to the mix of transportation fuels in an effort to achieve energy independence by using captive resources. The business stated in the statement that biofuels are a crucial component of India’s thriving Bio-economy, which is a vital instrument for tackling global warming sustainably.
Praj Industries Share
Given that Praj Industries had a market valuation of more than Rs 7,300 crore, its shares increased by roughly 10% on Friday to 405.90.
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IOC Share
Similarly, on Friday, Indian Oil Corporation increased by as much as 3% to Rs 101.20, setting a new 52-week high.
A sum of Rs. 1.42 lakh crore was the company’s market capitalization. The stock has a Thursday closing price of Rs 98.60.
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