The market opened in green on the day of weekly expiry. Sensex opened at 57,423.65 and Nifty opened at 17,095. Currently, Sensex is trading up 80 points at 57,417 and Nifty is up 25 points at 17,101.
Out of 30 Sensex stocks are buying in 20, while 10 stocks are selling. In which the shares of Doctor Reddy's and Titan are trading with a gain of more than 1%. Asian Paints stock is down 1%. 2,196 shares are being traded on BSE. In which 1,515 shares are rising and 599 shares are trading in the red mark. With this, the total market cap of companies listed on BSE has crossed Rs 250 lakh crore. Earlier on Wednesday, the Sensex fell 214 points to 57,338 and the Nifty slipped 56 points to close at 17,076.
Earlier, there was mixed business in the US stock market. The Dow Jones closed at 35,312 with a weakness of 0.14%. The Nasdaq rose 0.33% to 15,309 and the S&P 500 gained 0.03% to end at 4,524.
Shares of Praj Industries have performed well due to the increasing consumption of ethanol and the government's commitment to increase ethanol production. This multibagger stock has given returns of around 300% in the last year. It has given a 180% return till 16th August in 2021. From the level of Rs 68 in August 2020 to Rs 341 per share now, it has continued to give multibagger returns.
Praj Industries is involved in the domestic distillery and brewery installation business. The headquarters of this company is located in Pune. The company is a supplier of Ethanol Platons and a global leader in work for sustainable solutions for Bioenergy, High Purity Water, Critical Process Equipment, Breweries and Industrial Wastewater Treatment. The company has grown rapidly after the government focused on increasing ethanol production.
The transformation from an engineering company into a renewable fuel and chemical solutions provider has been good for Praj Industries. Analysts expect the company to benefit more from its leadership in ethanol and biofuel technology going forward.
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