Premier Explosives up by seven per cent on new order won

Premier Explosive is the stock of the day and has started the year with a bang. The stock which previously closed at Rs 336 opened four per cent higher on Jan 2. The scrip even hit an intra-day high of Rs seven per cent and as on 11.20 am is trading at Rs 352.05, up by 4.59 per cent.

The company has informed the bourses that it has bagged domestic order worth Rs 33.18 crore from the Ministry of Defence. Premier Explosive has won the order for the supply of chaffs and flares and the time frame to execute the order is twelve months.

The stock is trading with the SMA of 332.02 indicating bullishness in the stock. In the last three months, the stock has surged by four per cent. However, in the last six months the scrip has fallen by two per cent. Fifty-two-week high/low of the stock stands at Rs 519/290.