New Delhi, Dec. 16 -- Shares of Praj Industries, a leading global biotechnology and engineering company, remained higher for the second straight session during Tuesday's trade on December 16, rallying another 7.2% to reach a two-month high of Rs.357.80 apiece. This took the cumulative two-day gain to 18%.

Shareholders appear to be rejoicing at the recovery seen in the stock after a sustained correction since the start of the year, which had eroded billions in investor wealth and sharply reduced the company's market valuation.

Although the stock has staged a solid rebound recently, helping pare some of its annual losses, its year-to-date decline still stands at 57.21%. This marks its steepest yearly drop since 2008, when the stock ended ...