Premier Explosives surges 5% on securing order worth Rs57.90 crore from Ministry of Defence

26 Apr 2022 , 12:07 PM

Premier Explosives Limited informed that the company has received an order from the Ministry of Defence, Government of the Republic of India for procurement of 50 MM MTV Flares to be delivered to the company.

Premier Explosives is expected to deliver such products within a period of twelve months from the effective date of the contract.

The contract is worth Rs57.90 crore (including GST). It is a domestic order received by the company.

Significant terms and conditions of this order include Performance Bank Guarantee and GST at the rate of 18%. This order is for the Ministry of Defence, Air HQ (Vayu Bhawan), New Delhi, the company added.

Post this development, Premier Explosives’ counter added 5% and was trading at Rs394.80 against its previous close of Rs376 on NSE. So far in the day, it touched a high and low of Rs394.80 and Rs370.55 respectively. It is currently trading near its all-time high of Rs396.