Premier Explosives share price jumped nearly 10% as the company has received an export order worth Rs 190 crore. The order is to manufacture and supply defence explosive.
Premier Explosives will complete delivery within two years, the company said in the exchange filing. The company did not reveal the name of the international entity who has placed the order.
This order win came after the company received a purchase order for Rs 22.6 crore from another international entity on for supply of Rocket Motors to be delivered on or before March 31, 2026.
After receiving the order, the stock price snapped an eight-day losing streak in Monday's session. In the past eight sessions, the stock price lost 21% of its value.
Premier Explosives share price advanced 9.72% to Rs 467.75 apiece, which is the highest level since July 30. It pared gains to trade 5.07% higher at Rs 448 apiece as of 11:37 a.m., compared to 0.47% advance in the NSE Nifty 50 index.
The stock declined 30.32% in 12 months, and 14.26% on year to date basis. Total traded volume so far in the day stood at 3.4 times its 30-day average. The relative strength index was at 29.18, which implied the stock is oversold.
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