Heavy buying multibagger stock: This micro-cap company receives multiple orders worth Rs 86.60 crore from Ministry of Defence!
The stock is up by 65 per cent in 1 year, over 150 per cent in 2 years and over 250 per cent in just 3 years.
Premier Explosives Limited has notified the stock exchanges (BSE: 526247; NSE: PREMEXPLN) about securing a substantial order valued at Rs 76.78 crore (including GST). The Ministry of Defence, Air HQ (Vayu Bhawan), New Delhi has awarded the company the contract for supplying 50 MM MTV Flares. Premier Explosives Limited is expected to fulfil the order within a timeframe of 12 months from the Letter of Acceptance (LOA).
Additionally, the company has also disclosed receiving an order worth Rs 9.73 crore (including GST) from Bharat Dynamics Limited, a Government of India Enterprise under the Ministry of Defence, based in Hyderabad. This order pertains to the supply of Booster Grains, and the company aims to complete the order within 12 months from the LOA.
On Monday, shares of Premier Explosives Limited surged 2.56 per cent to Rs 490.65 per share with an intraday high of Rs 495.95 and an intraday low of Rs 480. The stock has a 52-week high of Rs 532 and a 52-week low of Rs 290.95. The company's shares experienced a significant surge in buying activity, accompanied by a substantial increase in trading volume of more than 2.36 times on the BSE.
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Premier Explosives Limited is engaged in the manufacturing of industrial explosives and detonators. It also undertakes operation and maintenance (O&M) services of solid propellant plants at the Srihari Kota Centre of ISRO and the solid fuel complex at Jagdalpur under the umbrella of DRDO. The company has a market cap of Rs 527.56 crore and reported amazing numbers in its Quarterly Results (Q4FY23) and annual results (FY23).
The stock is up by 65 per cent in 1 year, over 150 per cent in 2 years and over 250 per cent in just 3 years. Investors should keep an eye on this micro-cap stock.