Praj Industries jumps over 5 per cent on bagging new order from Indian Oil Corporation

Praj Industries today announced that the company has won a new order from Indian Oil Corporation Limited for the execution of zero liquid discharge (ZLD) system. 

The order received from Indian Oil Corporation Limited (IOCL), New Delhi is reported to be Rs 226.9 crore. The order is for the execution of a zero liquid discharge system namely, ‘water treatment package & wastewater treatment package of acrylic/oxo-alcohol project at IOCL Dumad (Gujarat)’. 

Praj Industries Limited runs a business of process and engineering. The company is engaged in the manufacture of other special-purpose machinery, not elsewhere classified. It also provides design & engineering services. Its water & wastewater treatment plant includes recycling, reuse, and zero liquid discharge plants whereas IOCL is engaged in the refining business. The company's segments include the sale of petroleum products, sale of petrochemicals, and other businesses.  

Reacting to the news, the share of Praj Industries was trading at Rs 121.40 at 12.34 pm on Friday, up by 5.15 per cent. It is trading quite close to its intraday high of Rs 123.20 while its 52-week high is Rs 129.70 as on BSE.