Praj Industries Shares Rise on GBA Launch
Shares of Praj Industries Limited rose 15% to hit a 52-week high of Rs 598 on September 11, 2023, on expectations that the company will benefit from the launch of the Global Biofuel Alliance (GBA).
The GBA is a public-private partnership launched by the Government of India on the sidelines of the G20 Summit. The alliance aims to accelerate the transition to sustainable biofuels and reduce the world’s dependence on traditional fossil fuels.
Biofuels are renewable energy fuels derived from biomass like crop stubble, plant waste and municipal solid waste. They are a cleaner and more sustainable alternative to fossil fuels.
The GBA is expected to lead to increased investment in the biofuels sector in India. This would create new jobs and boost the Indian economy.
Praj Industries is a leading provider of ethanol production technologies and services. The company has a 60-65% market share in developing ethanol plants in India. This gives it a strong position to benefit from the GBA.
The company also has a proven track record in the ethanol industry. It has successfully developed and commissioned ethanol plants in India and other countries.
Praj Industries is well-connected with the government and other stakeholders in the biofuels sector. This will help it to secure contracts and partnerships under the GBA.
The rise in Praj Industries shares is a positive sign for the company. It reflects the confidence of investors in the company’s future prospects.
The company is expected to continue to grow in the coming years, driven by the increasing demand for biofuels in India and the world.
In addition to the factors mentioned above, the rise in Praj Industries shares could also be attributed to the following:
- The government’s renewed commitment to the 20% ethanol blending program by 2025.
- The increasing availability of feedstock for ethanol production, such as crop stubble and sugarcane juice.
- The declining cost of ethanol production technologies.
Overall, the launch of the GBA is a positive development for the biofuels industry in India. It is expected to create new opportunities for companies like Praj Industries.
- 21 Sep
Electronics Mart India shares jump over 4% on block deal
Electronics Mart India shares climbed over 4% in opening trade on September 21 after 96.2 lakh shares of the firm changed hands in a block deal worth Rs 137.6 crore. The buyers and sellers could not be immediately ascertained. Electronics Mart India is a retailer of electronics home appliances and consumer durables. It is headquartered in Hyderabad, Telangana. The company's revenue jumped 19.95% year-on-year to Rs 1,691.56 crore in Q1 FY24. Its net profit climbed 48.2% to Rs 60.26 crore. Shares of the company are up 70% this year to date. The stock price is around 11% down from its 52-week high of Rs 166.50.
- 21 Sep
West Coast Paper Mills shares jump 3% on NCLT approval for Uniply Decor acquisition
West Coast Paper Mills shares were trading 3% higher in the morning trade on September 21 after the paper-maker announced having received approval for its resolution plan to acquire Uniply Decor from the National Company Law Tribunal (NCLT). The company's stock has been on an upward trend since July 27th.
- 21 Sep
Zydus Lifesciences Receives USFDA Approval for Acne Gel
Zydus Lifesciences shares rose nearly 1% on September 21 after the company received final approval from the USFDA for Clindamycin Phosphate Gel USP, a skincare gel used to treat acne. The drug will be manufactured at the group’s topical manufacturing facility at Changodar, Ahmedabad. This is the latest in a series of approvals for Zydus Lifesciences from the USFDA. The company is expected to continue to do well in its current business operations, with new drivers for growth based on vaccines, biosimilars, and complex generics.
- 20 Sep
TCS: Strong Deal Momentum and Revamped Organizational Structure Provide Resilience and Position the Company for Growth
TCS: Strong Deal Momentum and Revamped Organizational Structure Provide Resilience and Position the Company for Growth TCS, India's largest IT services company, has reported robust deal wins over the past few quarters. The company is also well-positioned to grab market share during the current challenging environment due to its strong domain expertise, global presence, and proven ability to cross-sell its services. The recent organizational restructuring is expected to alleviate concerns and aid in driving growth. Analysts maintain a Buy rating on TCS with a revised price target of Rs. 4,200, as they believe the company is well-placed to grab cost takeout as well as digital transformation programs along with opportunities arising from vendor consolidation.
- 20 Sep
Power Stocks Surge on Robust Growth Outlook
hares of NTPC, Power Grid, and JSW Energy surged on September 20, buoyed by a robust growth outlook for the power sector. Jefferies recommended these stocks as its top picks, citing India's capex-driven GDP growth, which is expected to lead to a rise in power intensity. The brokerage firm also expects the capex CAGR in the power sector to rise 9x at 20 percent in the period of FY23 to FY26. The robust growth outlook for the power sector is supported by a number of factors, including India's growing economy and population, the government's focus on renewable energy and infrastructure development, and the government's various initiatives to promote electric vehicles and smart grids.