Premier Explosives, Astra Microwave signs MoU for joint development & sale of products

Premier Explosives has signed a memorandum of understanding (MOU) with Astra Microwave Products, Hyderabad, for a strategic alliance to develop and sell multiple products jointly.

Premier Explosives is primarily involved in the manufacturing and sale of high-energy materials. The bulk explosives, packaged explosives and initiating systems manufactured by PEL find application in the mining, infrastructure and construction industries. The company also diversified into the manufacturing of propellants for missiles and rockets and also strap-on motors for satellite launch vehicles.

Astra Microwave Products designs and manufactures high-value-added RF and microwave super components and sub-systems that find application in defence, space, and civil communication systems.

Shares of Premier Explosives rose 1.48% to end at Rs 560.05 while that of Astra Microwave Products declined 0.11% to Rs 870.25 on Tuesday, 10 September 2024.

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