Premier Explosives booms up 8 per cent
Premier Explosives Limited has received an order from the Ministry of Defence, Air Headquarters, New Delhi. Post this development, the stock gained by 7.42 per cent.
The order consists of supplying 50mm Chaffs cartridges worth Rs. 100.08 crore.
Premier Explosives Limited conducts business in high energy materials including commercial explosives and defence explosives. With six manufacturing facilities in India the company provides emulsion boosters, packaged explosives, detonators and detonating fuse used for mining, explosive bolts, tear gas grenades, pyro actuators to name a few.
Post the news of receiving the order from the Ministry, on Monday, the stocks of Premier Explosives Limited increased by around Rs. 16.75, which is 7.95 per cent at Rs. 227.55 from its closing price of Rs. 210.80 for the previous day. Till Monday noon, the day’s high was Rs. 236 per share which is the highest trading price compared to the closing prices in the last month. The 52-week high is Rs. 310 and 52-week low is Rs. 160 on the BSE
Meanwhile, the benchmark index was at 40,214.22, up by 500.02 point or 1.26 per cent on BSE.