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Premier Explosives gains after order win

Capital Market 

Premier Explosives was up 3.67% to Rs 190.75 at 11:20 IST on the BSE after the company said it won a Rs 14.99 crore order from Bharat Dynamics.

The announcement was made after market hours yesterday, 10 July 2019.

Meanwhile, the S&P BSE Sensex was up by 149.85 points, or 0.39% to 38,706.89.

On the BSE, 569 shares were traded in the counter so far compared with average daily volumes of 314 shares in the past two weeks. The stock had hit a high of Rs 198 and a low of Rs 187 so far during the day. It hit a 52-week high of Rs 285.05 on 17 July 2018 and a 52-week low of Rs 160 on 11 October 2018.

The order is for supplying solid propellants for medium range surface to air missile (MRSAM) to be executed within a period of 14 months. This is not a material supply order.

Premier Explosives's net profit rose 14.7% to Rs 2.81 crore on a 29.6% fall in the net sales to Rs 58.59 crore in Q4 March 2019 over Q4 March 2018. The company will consider Q1 June 2019 results on Saturday, 10 August 2019.

Premier Explosives makes explosives and detonators with totally indigenous technology.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 11 2019. 11:26 IST