Bioenergy Sector
-
Systematix: Hold on Praj Industries, TP raised to ₹729 on sustainable aviation fuel focus
Systematix, a brokerage house, has advised maintaining a Hold rating on Praj Industries despite the company’s stock price surging approximately 40 per cent since June 01, 2024. They have revised Praj’s target price upward to ₹729, up from ₹607, based on a projected FY26E price/earnings multiple of 30, reflecting optimism around the company’s shift towards sustainable aviation fuel (SAF) and its global expansion strategies in decarbonization solutions.