Anil Singhvi recommends Praj Industries, explains why you should buy this stock—Check TRIGGERS

In the 'KalKe2000' programme, Zee Business Managing Editor and Market Guru Anil Singhvi picked Praj Industries, saying the company is an ethanol-based company with a strong trading track record. 

The Market Guru said that Praj Industries is the stock I will advise to buy. Because the government is serious about the blending of ethanol. Recently, there was the news that from April 1, 2023, there will 20 per cent ethanol blending in petrol.

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He added that Prime Minister Narendra Modi will launch the E-100 pilot project. The centre will also release an E-20 notification that will allow oil marketing companies to sell 20 per cent ethanol-blended petrol from April 2023. 

With the surging rate of crude oil, and the mixing of petrol with ethanol, this will give more focus to the government's vision, he said.    

Singhvi said that and these are the reasons to buy Praj Industries stock, as it will give you a good opportunity. “Keep Stop Loss at Rs 350; and Target for Rs 380, Rs 402. And if you are a positional trader or an investor then you can keep a target till Rs 420.  For investment purposes also, this stock was always trending and will also trend further,” he asserted.

अनिल सिंघवी से जानिए किस बड़े ट्रिगर के दम पर एक्शन दिखाएगा Praj Industries ?#KalKe2000 @AnilSinghvi_ pic.twitter.com/SKEA0W6Q1C

— Zee Business (@ZeeBusiness) June 4, 2021

With the launch of the E-100 pilot project, which is happening on Saturday, July 5, it will make ripples effect. Nitin Gadkari will be present in this virtual launch. This virtual meeting is jointly organised by the Ministry of Petroleum & Natural Gas and the Ministry of Environment, Forest and Climate Change. All the important ministers will be present at the meeting.  

He further added that based on this launch, you can see a huge momentum in all ethanol and sugarcane companies on Monday, June 7.  

“Similarly, you will witness a great action in ethanol-based Praj Industries. And Praj Industries has always been recommended by our experts,” he said.