Praj Industries’ stock has vaulted 500% on ethanol-blending theme. Can it carry on the momentum?

Concept by Priyanka Salve and Muhabit ul haq


Following its stellar performance, smart money is flowing out of Praj Industries even as retail investors are chasing it. While the government’s target on ethanol-blending has fuelled the rally, experts point out that valuations are stretched at current levels. But if the company succeeds in converting on-ground policy changes into profits, its stock can carry on the momentum.

It’s a stock that earned Rakesh Jhunjhunwala a fortune. The billionaire investor, who spotted Praj Industries early on, pocketed a 700x return between 2001 and 2007. The scrip had even caught the attention of American-Indian businessman and ‘ethanol evangelist’ Vinod Khosla back in 2006. Though the company is primarily into making engineering equipment for breweries, sugar mills, and waste-water management, the story that has really lured

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