Premier jumps on receiving first tranche payment of Rs 27 crore

13 May 2013

Premier is currently trading at Rs. 75.55, up by 1.55 points or 2.07% from its previous closing of Rs. 75.00 on the BSE.

The scrip opened at Rs. 78.80 and has touched a high and low of Rs. 80.00 and Rs. 72.80 respectively. So far 169613 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 151.40 on 09-Jan-2013 and a 52 week low of Rs. 62.90 on 04-Sep-2012.

Last one week high and low of the scrip stood at Rs. 79.00 and Rs. 72.15 respectively. The current market cap of the company is Rs. 230.83 crore.

The promoters holding in the company stood at 43.73% while Institutions and Non-Institutions held 6.69% and 49.58% respectively.

Premier currently owns about 68 acres of land at Dombivali after monetization of 150 acres in January, 2013. Out of the existing 63 acres of land, the Indian Railways are in the process of compulsory acquisition of about 26 acres of land for the Dedicated Freight Corridor project being implemented by it. The total amount expected to be received as compensation for such acquisition is about Rs. 100 crore. The Company  has received the first tranche payment of Rs 27 crore towards such acquisition.

Premier currently has a nationwide sales and service network of 55 dealers that is being raised to 100 by December 2012. It is also setting up 200 authorized service outlets all across the country called PASS (Premier Authorized Service Stations) equipped to support the RiO.

Related Premier Ltd. Links:

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