Premier Explosives is currently trading at Rs 57.50, up by 2.15 points or 3.88% from its previous closing of Rs 55.35 on the BSE.
The scrip opened at Rs 55.00 and has touched a high and low of Rs 58.60 and Rs 55.00 respectively. So far 8114 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 121.95 on 31-Dec-2010 and a 52 week low of Rs 45.10 on 22-Nov-2011.
Last one week high and low of the scrip stood at Rs 56.00 and Rs 48.55 respectively. The current market cap of the company is Rs 46.16 crore.
The promoters holding in the company stood at 41.41% while Institutions and Non-Institutions held 0.36% and 58.23% respectively.
Premier Explosives has inaugurated solid propellant expansion project on December 22, 2011, by Chief Controller, R&D (Missiles and Strategic Systems) of DRDO.
The company will entail an investment of Rs 10 crore and the project has been added to its existing manufacturing unit at Peddakandukuru in Nalgonda district of Andhra Pradesh. It will cater to the needs of tactical missiles like the Nag, Astra, Akash, and Pinaka.
Premier is producing solid propellants since 2003 and the new project will focus on solid propellants for tactical missiles, which will help the nation in reaching self-reliance in respect of defence supplies. The company has already supplied critical components like the smoke less composition which helps an aircraft detection after the launch of the missile for the Astra missile.
Premier Explosives (PEL) is one of the major companies manufacturing the entire range of explosives and accessories for the civil requirement. PEL is the first manufacturer in India to deploy totally indigenous technology. PEL today has the widest range of products and technologies in the manufacture of Explosives & Accessories.
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