Premier Explosives hits 52-week high on signing contract with overseas entity for supply of Rocket Motors
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Premier Explosives is currently trading at Rs. 420.10, up by 20.00 points or 5.00% from its previous closing of Rs. 400.10 on the BSE.
The scrip opened at Rs. 400.00 and has touched a high and low of Rs. 420.10 and Rs. 395.00 respectively. So far 12401 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 420.10 on 29-Apr-2022 and a 52 week low of Rs. 134.00 on 18-Jun-2021.
Last one week high and low of the scrip stood at Rs. 420.10 and Rs. 370.10 respectively. The current market cap of the company is Rs. 451.70 crore.
The promoters holding in the company stood at 41.33%, while Institutions and Non-Institutions held 3.74% and 54.93% respectively.
Premier Explosives has signed a contract with an overseas entity for supply of Rocket Motors (Items Sh-522 intended for R-22 aviation guided missiles with Igniter V-287) for a total value of $13.13 million (about Rs 100.40 crore approximately). Ordered items are expected to be delivered within eighteen months.
Premier Explosives is a prominent player in manufacturing solid propellants for India's prestigious missile programs like Akash, Astra, and LRSAM.
