Praj Industries surges after signing MoU with IATA, ISMA to drive certification, adoption of SAF in India
Praj Industries is currently trading at Rs 489.55, up by 3.60 points or 0.74% from its previous closing of Rs 485.95 on the BSE.
The scrip opened at Rs 489.90 and has touched a high and low of Rs 495.50 and Rs 488.05 respectively. So far 31341 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 2 has touched a 52-week high of Rs 874.30 on 01-Jan-2025 and a 52-week low of Rs 441.45 on 07-May-2025.
Last one week high and low of the scrip stood at Rs 503.40 and Rs 477.10 respectively. The current market cap of the company is Rs 9004.08 crore.
The promoters holding in the company stood at 32.81%, while Institutions and Non-Institutions held 36.67% and 30.52% respectively.
Praj Industries, International Air Transport Association (IATA), and Indian Sugar & Bio-energy Manufacturers Association (ISMA) have signed a strategic Memorandum of Understanding (MoU) to drive the certification and adoption of Sustainable Aviation Fuel (SAF) in the country. The partnership will focus on conducting a comprehensive Life Cycle Assessment (LCA) of SAF derived from Indian sugarcane feedstock via the Ethanol-to-Jet (ETJ) pathway-a critical milestone in demonstrating the environmental and economic viability of indigenous SAF solutions.
The MoU underscores the participants’ shared commitment to sustainability and to reducing emissions in aviation-one of the world’s most challenging sectors to decarbonize. Through this partnership, Praj, IATA, and ISMA aim to determine an accurate Carbon Intensity (CI) number for SAF produced using Indian sugarcane. CI measures the amount of greenhouse gas emissions produced per unit of energy generated (usually expressed in gCO?e/MJ). This key metric for SAF determines how much cleaner the fuel is compared to conventional jet fuel.
As part of the collaboration, the three participants will also work together to define and recommend a certification methodology suited to the Indian context. This framework will align with internationally recognized sustainability and emissions reduction standards, specifically the International Sustainability and Carbon Certification (ISCC) CORSIA and the Roundtable on Sustainable Biomaterials (RSB) CORSIA standard. This landmark collaboration highlights India’s commitment to pioneering sustainable aviation and lays a strong foundation for a low-carbon future, driving innovation and environmental stewardship in the global aviation sector.
Praj Industries is a global leader providing solutions spanning across Biofuels, Biomaterials, Energy Transition & Climate Action, Critical Process Equipment & Modularization, High Purity Water Systems, Brewery & Beverages, and Zero Liquid Discharge Systems.
