Praj Industries shares surge 12% but stock set for worst calendar year since 2008

Shares of Praj Industries Ltd. witnessed their biggest single-day gain since November 2024, rising as much as 11.9% on Monday, December 15.

The stock has been alternating between gains and losses for the last six trading sessions.

Its volumes on Monday have been the highest in the last three months. Around 1.76 crore shares of Praj Industries changed hands on Monday compared to their 20-day average of 5.8 lakh shares.

The stock has crossed its 50-day moving average (DMA) of ₹332 apiece and is now nearing its ₹100-DMA at 373 per share.

However, shares of Praj Industries are set for their worst calendar year returns since 2008, when the stock had declined 73%. The stock has declined 60% in 2025, so far.

In September this year, brokerage firm JPMorgan had initiated coverage on the stock with a 'neutral' rating.

Of the 10 analysts who have coverage on the Praj Industries stock, three have a "buy" rating, six have a "hold" rating, and one has a "sell" rating.

Shares of Praj Industries gained 11.9% to hit an intraday high of ₹339.9 apiece.

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