Premier Explosives turns volatile after winning order

Premier Explosives was up 0.18% to Rs 354.25 at 13:18 IST on BSE after the company said it bagged an order worth Rs 72.95 crore for supplying explosives at the open cast projects of the Singareni Collieries Company for 2 years.

The announcement was made during trading hours today, 13 June 2016.

Meanwhile, the BSE Sensex was down 272.35 points, or 1.02%, to 26,363.40.

On BSE, so far 17,000 shares were traded in the counter, compared with an average volume of 7.05 lakh shares in the past one quarter. Trading was volatile in the counter. The stock rose 4.64% at the day's high of Rs 370. The stock fell 2.43% at the day's low of Rs 345. The stock hit a 52-week high of Rs 519 on 7 January 2016. The stock hit a 52-week low of Rs 222 on 12 June 2015. The stock had underperformed the market over the past one month till 10 June 2016, falling 4.38% compared with 3.28% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, sliding 8% as against Sensex's 7.76% rise.

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

Premier Explosives said it has bagged an order worth Rs 72.95 crore for the supply of SMS/SME explosives, LDC explosives and accessories for blasting at all the open cast projects of the Singareni Collieries Company for a period of 2 years i.e. from 2016 to 2018.

Net profit of Premier Explosives rose 68.32% to Rs 3.40 crore on 39% rise in net sales to Rs 58.45 crore in Q4 March 2016 over Q4 March 2015.

Premier Explosives (PEL) 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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