Premier Explosives touches roof on bagging orders worth Rs 552.26 crore
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Premier Explosives is currently trading at upper limit of Rs. 588.75, up by 98.10 points or 19.99 % from its previous closing of Rs. 490.65 on the BSE.
The scrip opened at Rs. 499.00 and has touched a high and low of Rs. 588.75 and Rs. 497.55 respectively. So far 17139 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 588.75 on 11-Jul -2023 and a 52 week low of Rs. 290.95 on 11-Jul-2022.
Last one week high and low of the scrip stood at Rs. 588.75 and Rs. 435.00 respectively. The current market cap of the company is Rs. 633.04 crore.
The promoters holding in the company stood at 41.33%, while Institutions and Non-Institutions held 3.59% and 55.08% respectively.
Premier Explosives has bagged orders worth Rs 552.26 crore from the Ministry of Defence, Government of Republic of India for procurement of Flares and Chaffs.
The first order worth Rs 292.11 crore (including GST) is from Ministry of Defence, Air force, New Delhi for Supply of Chaffs and it is to be completed within 12 months. The another order worth Rs 260.15 crore (including GST) is from Ministry of Defence, Air Force, New Delhi for Supply of Flares and it is to be completed within 12 months.
Premier Explosives is a prominent player in manufacturing solid propellants for India's prestigious missile programs like Akash, Astra, and LRSAM.
