Premier Explosives shines on receiving license for manufacture solid propellant

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Premier Explosives is currently trading at Rs. 169.65, up by 6.40 points or 3.92% from its previous closing of Rs. 163.25 on the BSE.

The scrip opened at Rs. 177.00 and has touched a high and low of Rs. 177.00 and Rs. 165.10 respectively.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 280.05 on 21-Nov-2018 and a 52 week low of Rs. 150.00 on 08-Aug-2019.

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Last one week high and low of the scrip stood at Rs. 177.00 and Rs. 161.00 respectively. The current market cap of the company is Rs. 175.53 crore.

The promoters holding in the company stood at 41.13%, while Institutions and Non-Institutions held 17.39% and 41.48% respectively.

Premier Explosives has received the license from Chief Controller of Explosives, Nagpur for manufacture of Solid Propellant at its factory situated at Katepally, near Hyderabad. This new license will enable the company to manufacture solid propellants of larger size at its Greenfield project.

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Premier Explosives is a prominent player in manufacturing solid propellants for India’s prestigious missile programs like Akash, Astra, and LRSAM.