Premier Explosives touches roof on signing contract with Ministry of Defence
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Premier Explosives is currently trading at its upper circuit limit of Rs. 310.20, up by 14.75 points or 4.99% from its previous closing of Rs. 295.45 on the BSE.
The scrip opened at Rs. 280.75 and has touched a high and low of Rs. 310.20 and Rs. 280.75 respectively. So far 3036 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 428.00 on 02-May-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. 344.90 and Rs. 280.75 respectively. The current market cap of the company is Rs. 333.53 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 Ministry of Defence (Army) at New Delhi for supply of NFM - new family of Munitions for a total value of Rs 44.58 crore (including GST), to be delivered within twenty four months from the effective date of contract. The production of these items will be done from company’s facility at Katepally.
Premier Explosives is a prominent player in manufacturing solid propellants for India's prestigious missile programs like Akash, Astra, and LRSAM.
