Premier Explosives witnesses a fiery move, hits fresh 52-week high!
The stock is up by 39 per cent on a YTD basis while on a WTD basis, it has jumped 14.5 per cent.
Premier Explosives Ltd (PEL) is a prominent player in manufacturing solid propellants for India's prestigious missile programmes like Akash, Astra, and long-range surface-to-air missiles (LRSAM).
The company has the honour of being the first one to set up a manufacturing unit with totally indigenous commercial explosive technology. Premier is also the first private sector manufacturer in India to develop and supply solid propellants.
PEL today has the widest range of products and technologies, which are used in manufacturing explosives & accessories. These include emulsion and slurry explosives, LD cartridge explosives, bulk explosives, small-dia non-permitted explosives, permitted explosives, cast boosters, pillow-packs for secondary blasting; detonating fuse of various core-loads, plain detonators, instantaneous electric detonators, electric delay detonators, permitted detonators, cord relays and Amardet non-electric shock-tube detonators.
The stock is seen buzzing on the bourses today. It made a fresh 52-week high of Rs 342.95 despite witnessing a severe sell-off in the stock market. So, what’s the key catalyst which is helping to propel this stock?
The company has informed that it has received the following orders from Defence Research & Development Organisation (DRDO):
- Prestigious order for the supply of primary explosives plant on turnkey basis to HEMRL of DRDO for a total value of Rs 4.50 crore, and
- Fabrication & supply of R-ill rocket motors (propulsion system) to DRDL of DRDO for a total value of Rs 13.20 crore.
The stock is up by 39 per cent on a YTD basis while on a WTD basis, it has jumped 14.5 per cent.