Premier Explosives stock spurts 4% after signing contract of Rs19.40 crore

Premier Explosives Limited in the fast rally on Tuesday's trading session after the announcement of signing contract with Overseas entity.

As per the regulatory filing, company signed a contract with an Overseas Entity for supply of Rocket Motors and an amount of USD 2.44 Million (about Rs19.40 crore approx.) received towards production line building and procurement of critical raw material.

"None of the promoter / promoter group / group companies has any interest in the entity that awarded the contract", the company said.

On Tuesday, at around 9:48 AM, Premier Explosives Ltd is currently trading at Rs528 per share up by Rs21.2 or 4.18% from its previous closing of Rs506.80 per share on the BSE.

The scrip opened at Rs525 per share and has touched a high and low of Rs531.40 per share and Rs521.95 per share respectively so far today. The current market cap of the company is Rs544.92 crore.

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