Premier Explosives bags orders worth Rs9.74 crore from Israel Aerospace; stock spurts ~3%

21 Sept 2022 , 09:28 AM

Premier Explosives Limited informed that the company has received two distinct orders from MIs. Israel Aerospace Industries Limited.

As per the company, the first order is for the manufacturing and supply of Warheads for a total value of USD 537,500 (approx. Rs4.27 crore). The company is expected to deliver these items by May 2023.

The second order received by the company is for the production and supply of Booster Rocket Motors for a total value of USD 688,000 (approx. Rs5.47 crore). The company stated that it has successfully designed and developed Rocket Motors to the satisfaction of the customer.

Premier expects to deliver the second order by March 31, 2023.

At around 9.24 AM, Premier Explosives was trading at Rs504.95 up by or 2.66% from its previous closing of Rs491.85 on the BSE. The scrip opened at Rs500.90 and has touched intraday high and low of Rs504.95 and Rs497 respectively.

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