Premier Explosives shines on receiving order from Vikram Sarabhai Space Centre
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Premier Explosives is currently trading at Rs. 436.50, up by 8.60 points or 2.19% from its previous closing of Rs. 427.90 on the BSE.
The scrip opened at Rs. 436.00 and has touched a high and low of Rs. 437.25 and Rs. 436.00 respectively. So far 51 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. 231.80 on 16-Feb-2022.
Last one week high and low of the scrip stood at Rs. 452.00 and Rs. 425.75 respectively. The current market cap of the company is Rs. 460.09 crore.
The promoters holding in the company stood at 41.33%, while Institutions and Non-Institutions held 3.63% and 55.03% respectively.
Premier Explosives has received an order from Vikram Sarabhai Space Centre (VSSC) for production and supply of three sets of PSOM-XL Motors (HS, MS & NS) for their PSLV launch vehicle for a total value of Rs 3.45 crore. This is a repeat order to be executed at the Solid Propellant Plant located at Katepally The company has already executed four PSOM-XL motors. The order is to be executed within a period of 8 months.
Premier Explosives is a prominent player in manufacturing solid propellants for India's prestigious missile programs like Akash, Astra, and LRSAM.
