Premier Explosives soars on bagging orders from Israel Aerospace Industries
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Premier Explosives is currently trading at Rs. 505.10, up by 13.25 points or 2.69% from its previous closing of Rs. 491.85 on the BSE.
The scrip opened at Rs. 500.90 and has touched a high and low of Rs. 512.00 and Rs. 497.00 respectively. So far 3835 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 532.00 on 30-Aug-2022 and a 52 week low of Rs. 220.00 on 01-Nov-2021.
Last one week high and low of the scrip stood at Rs. 521.95 and Rs. 465.25 respectively. The current market cap of the company is Rs. 548.04 crore.
The promoters holding in the company stood at 41.33%, while Institutions and Non-Institutions held 3.56% and 55.11% respectively.
Premier Explosives has received orders from Israel Aerospace Industries (IAI), Israel. The first order is for manufacture and supply of Warheads for a total value of $537,500 (about Rs 4.27 crores approx.). Ordered items are expected to be delivered by May, 2023. The second order is for production and supply of Booster Rocket Motors for a total value of $688,000 (about Rs 5.47 crore approx.). The Company has successfully designed and developed the Rocket Motors to the satisfaction of the customer. Ordered items are expected to be delivered by March 31, 2023.
Premier Explosives is a prominent player in manufacturing solid propellants for India's prestigious missile programs like Akash, Astra, and LRSAM.
