Praj Industries announced that it has changed the name of its subsidiary Neela Systems as Praj Hipurity Systems.

Praj Industries had acquired majority stake in Mumbai headquartered Neela Systems in 2012. The change of identity is in line with the growth plan of Praj HiPurity to go beyond pure water solutions for Pharma Industry to end-to-end, integrated solutions for pharma, biotech and cosmetics industries and the enhanced shareholding of Praj in the subsidiary.

Pramod Chaudhari, executive chairman of Praj Industries and chairman of Praj HiPurity Systems said, "We realized that the new identity was imperative considering not only the increased participation of Praj but also the changed business direction. Praj HiPurity Systems, an ISO 9001:2008 certified company, offers US FDA and UK MHRA compliant systems for pharma and biotech industries."

Shares of the company gained Rs 0.4, or 0.87%, to trade at Rs 46.20. The total volume of shares traded was 65,465 at the BSE (2 p.m., Tuesday).