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Premier Explosives trades jubilantly on getting approval for construction of factory at Katepally

24 Oct 2017

Premier Explosives is currently trading at Rs. 458.45, up by 22.15 points or 5.08% from its previous closing of Rs. 436.30 on the BSE.

The scrip opened at Rs. 436.00 and has touched a high and low of Rs. 484.00 and Rs. 435.70 respectively. So far 6838 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 539.35 on 16-Jun-2017 and a 52 week low of Rs. 304.50 on 23-Nov-2016.

Last one week high and low of the scrip stood at Rs. 484.00 and Rs. 426.75 respectively. The current market cap of the company is Rs. 463.73 crore.

The promoters holding in the company stood at 40.41%, while institutions and non-institutions held 19.21% and 40.38% respectively.

Premier Explosives has received the approval for the drawings of manufacturing factory at Katepally village. The company would manufacture HMX, ammunition, solid propellants and warheads at this Greenfield project which is located about 80 km from Hyderabad.

Premier Explosives had already received Industrial Licences for these products. With receipt of this approval, the company can now start construction of the plant and plans to complete it by December 2018.

Premier Explosives is one of the major companies manufacturing the entire range of explosives and accessories for the civil requirement. The company is the first manufacturer in India to deploy totally indigenous technology.

Related Premier Explosives Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323