This is only for educational purpose
This is not a recommendation
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1️⃣ Sideways consolidation in praj industries since many days
2️⃣ Always respected the suport of 319 to 328
3️⃣Could possibly give good bounce at the same volume must also be supportive
4️⃣Strict SL must be maintained below the support price
* Plz do your own research before investing....I am not SEBI registered
One of the fav capital goods stocks because of the Ethanol story where they have a HUGE order book.
Praj might have completed its consolidation and could be ready for the next move..
The only problem is ASM which has killed volumes.
Long at CMP with SL below 370.
PRAJIND consolidation phase breakout. Expect upside moment sooner.
Target Levels 450 / 490
SL - 350
Short Term (1-3months) View based on general market trend.
Not a buy recommendation. Only for educational purpose.
Praj industries is one of the biggest beneficiaries as far ethanol blending and bio fuel are concerned.
India being the biggest importer of crude, government is aggressively promoting ethanol blending program.
Praj Industries (Nse) has an operating revenue of Rs. 1,304.67 Cr. on a trailing 12-month basis.
Annual revenue growth of 17% is outstanding, a Pre-tax margin of 9% is okay, ROE of 10% is good.
The company is debt-free and has a strong balance sheet enabling it to report stable earnings growth across business cycles.