Premier Explosives jumps on securing license for solid propellant

Premier Explosives rose 3.64% to Rs 169.20 after the company said it received the license from Chief Controller of Explosives, Nagpur for manufacturing solid propellant at its factory near Hyderabad.

This new license will enable the company to manufacture solid propellants of larger size at its greenfield project, the company said after trading hours yesterday, 29 August 2019.

On BSE, 2,052 shares were traded in Premier Explosives counter, compared to a 2-week average of 659 shares. The stock hit an intraday high of Rs 177 and an intraday low of Rs 165.10.

It hit a 52-week high of Rs 280.05 on 21 November 2018 and a 52-week low of Rs 150 on 8 August 2019.

Premier Explosives is engaged in the business of high energy materials, both commercial explosives as well as defense explosives.

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