Shares of Premier Explosives Ltd surged 10% and hit the upper circuit on December 16, extending the gain after the company announced a strategic joint venture with Global Munition, a subsidiary of NIBE Ordnance and Maritime, to manufacture defence and aerospace products.
At 9:48 AM, Premier Explosives shares were trading at ₹568.20, up ₹51.65 on the BSE, with pending buy orders for 35,750 shares and no sellers available.
Key Highlights:
- Under the proposed joint venture, Global Munition will hold a 51% stake, while Premier Explosives will hold 49% equity.
- This partnership marks a significant step in enhancing the company’s presence in the growing defence and aerospace sectors.
Recent Orders
In November, Premier Explosives received a substantial order worth ₹89.20 crore from Singareni Collieries Company Limited (SCCL). The contract involves the supply of SME explosives, LDC explosives, and related accessories for use in OB blasting at various SCCL Opencast Projects. The order will be executed over a 2-year period.
The stock has been on a strong upward trajectory, driven by new partnerships and consistent order inflows in the defence and mining sectors.
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