Premier Explosives surges 3% on order wins worth Rs181cr

The scope of work includes providing operation and maintenance services.

Dec 19, 2018 09:12 IST India Infoline News Service

Shares of Premier Explosives surged 3% in afternoon trade on Wednesday after the company won an order worth Rs181cr from Satish Dhawan Space Centre, Shriharikota.

The scope of work includes providing operation and maintenance services. "The order is subject to price escalation from second year onwards," the company said in a press note on Wednesday.

"The company has executed a similar order for 11 years, and this is a new order for another ten years received after completion of a tender process," the company added.

Premier Explosives Ltd's share price is currently at Rs261.10, up by Rs4 or 1.56%, from its previous close of Rs257.10 on the BSE. The scrip opened at Rs258 and has touched a high and low of Rs269.50 and Rs254, respectively. So far, 1,05,307 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs273.48cr.

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