Many investors are now-a-days scouting for good opportunity in the market, so that they can enter at current level and reap good profits in the long run.

Praj Industries is looking good for long term investors. The zero-debt Praj is basically an engineering company focusing on the distillery industry. It markets its products and services to more than 35 countries and is world's single largest supplier of molasses based distillery technology, plant and equipment.

The scrip of the company was beaten down during the trailing 12 months, following the almost vertical plunge in crude oil price, led by concerns that low oil price may trim the spends by Praj's user companies.

However, company's established position in the field of bio-ethanol technology makes the stock a good long term investment.

At the current market price of Rs 72.6, the stock appears reasonably priced at about 10 times its likely FY10 per share earnings.

After going through past performance, it has been revealed that scrip is capable to achieve a level of Rs 290, which is four-times of the current market price.

The stock had made 52-week-low of Rs 80.45 in 20-October-2005 and after two year of run along with broader market, it had achieved a level of Rs 536.90 on
31-December-2007, which is 52-week-high of that year.

We suggest investors to invest some surplus cash in this scrip and leave it for a period of 2-4 years. We are hopeful that counter will be become a multi-bagger scrip and bring good profits for you.

Note: - Investors should seek financial situation and the particular needs of any specific investing in any securities or investment strategies discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security's price or value may rise or fall. Past performance is not necessarily a guide to future performance.