Praj Industries rallies over 5% on Rs 235 crore order

MUMBAI: Shares of Praj Industries surged higher in early trade on bagging Rs 235 crore order for oil & gas process skids from Petrobras.

The company will provide detailed engineering, procurement, manufacturing of skids alongwith all related equipment.

Praj will manufacture these process skids as per ASME and Brazilian code requirements at its SEZ, Kandla units in Gujarat, India.

The weight of individual skids range from 50 to 150 tonnes and some of the units will be large, multi-storied skids.

At 10:00 a.m.; the stock was at Rs 75.10, up 4.52 per cent, on the BSE. It rallied 5.49 per cent to touch intraday high of Rs 75.80.