Premier Explosives advances on getting Arms license to manufacture Ammonium Perchlorate

26 Oct 2018

Premier Explosives is currently trading at Rs. 199.00, up by 8.80 points or 4.63% from its previous closing of Rs. 190.20 on the BSE.

The scrip opened at Rs. 190.00 and has touched a high and low of Rs. 202.40 and Rs. 182.05 respectively. So far 1916 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 536.25 on 08-Jan-2018 and a 52 week low of Rs. 160.00 on 11-Oct-2018.

Last one week high and low of the scrip stood at Rs. 204.90 and Rs. 178.00 respectively. The current market cap of the company is Rs. 211.68 crore.

The promoters holding in the company stood at 40.49%, while Institutions and Non-Institutions held 18.10% and 41.41% respectively.

Premier Explosives has received Arms license from the Arms License Issuance Authority, Department of Industrial Policy and Promotion (DIPP) for the manufacturing of Ammonium Perchlorate at the company’s Peddakandukuru plant with an annual capacity of 1,000 tons per annum.

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
SEBI Registered: Investment Adviser - INA000013323
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