Praj Industries (PRAJIND.NSE) slid up to 8.8% to a two-year low after Q1 FY26 profit plunged 93.7% YoY to ₹40.1 crore on weaker ethanol market sentiment. Analyst Akhilesh Jat warned of further downside to ₹310 if the stock stays below ₹445. Revenue fell 8.4% to ₹640.2 crore. Shares are down 50% YTD.