Heavy buying: This multibagger stock bags multiple orders worth Rs 638 crore; hits fresh 52-week high!

Shares of the company gained more than 90 per cent in the last six months.

Shares of Premier Explosives Limited gained more than 9.00 per cent on Friday. The stock also made a 52-week high of Rs 791.95. In the last six months, the stock has gained about 98 per cent.

In the last few days, the company has secured 4 new orders worth Rs 638.77 crore. The first order was from the Ministry of Defence, Air HQ (Vayu Bhawan), New Delhi for supplying 50 MM MTV flares within 12 months and the order is worth Rs 76.78 crore. Similarly, the company received another order worth Rs 260.15 crore. The company also received an order for supplying chaffs and the order is worth Rs 292.11 crore.
The company also received an order from Bharat Dynamics Limited for the supply of booster grains and the order is worth Rs 9.73 crore.

Premier Explosives Limited (PEL) is one of the major companies manufacturing the entire range of explosives and accessories for civil requirements. The company is the first manufacturer in India to deploy totally indigenous technology. PEL today has the widest range of products and technologies in the manufacture of Explosives & Accessories.

The stock has gained more than 150 per cent in the last year, and investors should keep a close eye on this stock.