Premier Explosives shines on tying up with Nexter

13 Apr 2018

Premier Explosives is currently trading at Rs. 367.70, up by 11.60 points or 3.26% from its previous closing of Rs. 356.10 on the BSE.

The scrip opened at Rs. 359.00 and has touched a high and low of Rs. 379.25 and Rs. 355.05 respectively. So far 4130 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. 314.10 on 26-Mar-2018.

Last one week high and low of the scrip stood at Rs 379.25 and Rs 352.00 respectively. The current market cap of the company is Rs. 391.13 crore.

The promoters holding in the company stood at 40.41%, while Institutions and Non-Institutions held 17.98% and 41.61% respectively.

Premier Explosives (PEL) and the French defence company Nexter have decided to tie-up for manufacturing Bi-Modular Charge Systems (BMCS) in order to respond to the needs of the Indian Ministry of Defence. The partners responded to the BMCS RFP (Request for Proposal) relative to a 10 year contract by manufacturing in India, combining the experience of Nexter with the pyrotechnics knowledge of PEL. 

The proposed product, which is the key of artillery propulsion, is 100% designed within NEXTER Group in accordance with the Indian technical requirements. Through a long-term partnership, PEL and Nexter are willing to build up one of the first Indian private manufacturers of ammunition. This project responds to the Indian government objective to develop a private robust source of ammunition.

Premier Explosives is a prominent player in manufacturing solid propellants for India's prestigious missile programs like Akash, Astra, and LRSAM.

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Puchho Befikar
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