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HomeMarket NewsPremier Explosives jumps 9% on ₹350 crore defence export order
Premier Explosives shares jump after winning export defence orders worth ₹350.23 crore from an overseas client, to be executed over two years, with no related party involvement.
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Shares of Premier Explosives Limited rose as much as 9.6% on Wednesday, April 22, after the company secured export orders worth ₹350.23 crore for the supply of defence products.
In an exchange filing, the company said the orders have been received from an international client and will be executed over a period of two years.
The contract involves the supply of defence products, marking a significant addition to the company’s order book in the export segment.
Premier Explosives clarified that the order has been awarded by an overseas entity and does not involve any related party transactions. The company also said that neither the promoter nor the promoter group has any interest in the awarding entity.
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Shares of the company surged 9.6%, reaching the intraday high at ₹544.8, before paring some gains. The stock was trading at ₹536.25 as of 1.49 pm, still 7.89% above Tuesday's closing price. It has delivered a return of more than 35.5% over the last month.
