Premier Explosives jumps after strong Q2 earnings

Premier Explosives was up 5.52% to Rs 393.60 at 10:52 IST on BSE after net profit rose 27% to Rs 2.40 crore on 35.8% rise in net sales to Rs 54.70 crore in Q2 September 2016 over Q2 September 2015.

The result was announced after market hours yesterday, 2 November 2016.

Meanwhile, the S&P BSE Sensex was up 36.57 points or 0.13% at 27,563.79.

On BSE, so far 62,000 shares were traded in the counter as against average daily volume of 6,457 shares in the past one quarter. The stock hit a high of Rs 403 and a low of Rs 384 so far during the day. The stock had hit a record high of Rs 519 on 7 January 2016. The stock had hit a 52-week low of Rs 290 on 29 February 2016. The stock had outperformed the market over the past one month till 2 November 2016, advancing 11.23% compared with 1.22% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 5% as against Sensex's 1.62% fall.

The small-cap company has equity capital of Rs 8.86 crore. Face value per share is Rs 10.

Premier Explosives is one of the major companies in India manufacturing the entire range of commercial explosives and accessories for the civil requirement.

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