The company reported its earnings for the quarter ended December 2023. Praj's net profit rose 13 per cent to Rs 70 crore in Q3 FY24 as against Rs 62 crore during the previous quarter ended December 2022.
Over the past year the stock has surged 50%, surpassing the Sensex by an impressive 32%, but as a first mover and market leader with no debt on its books, the company seems poised for further growth.
Several Indian stocks, including Praj Industries, Granules India, PVR Inox, Mishra Dhatu Nigam, Tata Motors DVR, The Phoenix Mills, Metro Brands, Akzo Nobel India, Sona BLW Precision Forgings and Glenmark Pharmaceuticals, demonstrated strong market performance on July 7, 2023, surpassing their respective last week s high, according to data from StockEdge. The stocks belong to a range of sectors, such as bioenergy, pharmaceuticals, automotive components, paints, and coatings, as well as retail mall development and operation.
Multibagger Stocks: Axis Securities has a buy call on five stocks that it believes may rally up to 59% in the next one year. Watch this Business Today Visual Story to check if you own any of these stocks.
The small-cap share has gained 232 per cent since the beginning of this year. Praj Industries share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200-day moving averages. Market cap of the firm rose to Rs 7,041.49 crore