Praj Industries zooms over 7% on good Q4 numbers; should you buy, sell or hold?

Praj Industries share price NSE, Praj Industries Q4 results, Praj Industries dividend 2023: Praj Industries Ltd NSE: PRAJIND shares zoomed in Friday's session, ended at Rs 374 apiece over 4 per cent or Rs 16.05 on NSE, a day after the Pune-headquartered company reported a good set of Q4 numbers. The company reported a 52.83 per cent increase in quarterly net profit at Rs 88.11 crore in March 2023 against Rs 57.65 crore in March 2022. The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at Rs. 124.53 in Q4, an increase of 45.65 per cent against Rs 85.50 crore in a year ago period. The counter opened at Rs 380 on NSE. 

Praj Industries share price target: Should you buy, sell or hold?

Siddharth Sedani of Anand Rathi Shares on Zee Business recommended buying in the counter for targets of Rs 390 and Rs 470.

Praj Industries dividend

Praj Industries announced a dividend of Rs 4.5 per equity share of the face value of Rs 2 each i.e., a 225 per cent payout. The dividend is subject to the approval of shareholders at the 37th Annual General Meeting.

Praj Industries dividend payment date

If approved the dividend will be paid within 30 days from the date of approval of the same by the shareholders at the ensuing Annual General Meeting of the Company, the company's communique said.

Praj Industries' share price history

Praj Industries's stock has given a positive return of nearly 19 per cent in the last year (May 26, 2022). In comparison, the headline index Nifty 50 has rallied over 13 per cent.The company claims to be one of the most technologically advanced biotechnology and engineering companies in the world.

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com