Shares of the company have gained about 30 per cent in the last six months.

The stock is up by 47 per cent from its 52-week low of Rs 397.20 per share and gave multibagger returns of 263 per cent in 5 years.

The stock gave multibagger returns of 260 per cent in 3 years and a whopping 1,870 per cent in a decade.

Shares of the company gained more than 60 per cent in the last six months.

Indian Oil Corporation Limited (Indian Oil) 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.

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.

The Board of Directors proposed a final dividend of Rs 4.50 per equity share or 225 per cent of the face value of Rs 2 per equity share, for the financial year ended 31 March 2023, which is subject to the approval of shareholders at the forthcoming AGM. Furthermore, the company has an order book of Rs 3,414 crore as of March 31, 2023.

The company has accorded ‘in-principle’ approval to carry out pre-project activities including the preparation of a detailed feasibility report for setting up Paradip Petrochemical Complex at Paradip, Odisha at an estimated project cost of Rs 61,077 crore.

Both companies are public sector undertakings, with the majority ownership held by the President of India (NTPC Ltd holds a stake of 51.10 per cent, while Indian Oil Corporation Ltd holds a stake of 51.50 per cent).

This achievement demonstrates the commitment of Air India group, IOCL, and Praj Industries, with the support of the Ministry of Civil Aviation and the Ministry of Petroleum and Natural Gas, to develop and promote indigenous solutions for sustainable aviation.