Premier Explosives Ltd (PEL) witnessed a 5% surge in its stock price after announcing a significant export order worth Rs 18.90 crore for the supply of defence explosives. As of 9:24 AM, the shares were trading 5.37% higher at Rs 345.10.
As per the official statement, the contract will be executed within five months, though the identity of the international client remains undisclosed. The order is strictly for defence explosives, with no promoter group or related party involvement.
This deal marks a strategic growth milestone for Premier Explosives, reinforcing its position in the global defence industry. The Secunderabad-based company has been a leader in manufacturing high-energy explosives and defence-related products for over four decades.
Premier Explosives Ltd.’s shares opened at ₹338.00 on Wednesday, reaching a high of ₹348.00 and a low of ₹335.50 during the session. The stock remains significantly below its 52-week high of ₹908.80 but stays above the 52-week low of ₹270.40.
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