Premier Explosives share price jumped over 4% in early trade on Thursday after the company announced receipt of an order from the Ministry of Defence. The defence stock rallied as much as 4.14% to ₹551.85 apiece on the BSE.
Premier Explosives announced that it has received an order for an amount of ₹7.83 crore from the Ministry of Defence, Government of India, for procurement of Counter Measures.
The order is to be delivered within a period of 12 months, it said in a regulatory filing on September 10.
Premier Explosives is a manufacturer of industrial explosives and detonators, and also undertakes operation and maintenance (O&M) services.
Premier Explosives Share Price Performance
Premier Explosives share price has rallied 25% in one month, but has fallen 10% in three months. The defence stock has jumped 65% in six months, while it has eased 5% in one year.
Over the long-term, Premier Explosives shares have delivered multibagger returns as the stock has surged 151% in two years, and has skyrocketed 2,170% in five years.
At 9:45 AM, Premier Explosives share price was trading 2.43% higher at ₹542.80 apiece on the BSE.
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