Multibagger defence stock hits record high on stellar Q1 earnings
The stock opened higher at Rs 829.95. After trading near the previous close of Rs 808.35 for a majority of the session, the defence stock hit upper circuit in the final hour of trade after the earnings were announced.
- Jul 19, 2023,
- Updated Jul 19, 2023 4:42 PM IST
Shares of Premier Explosives Ltd zoomed to a record high today after the defence firm’s June quarter profit rose six times on a year-on-year basis. Premier Explosives reported a profit of Rs 8.21 crore in the June quarter against Rs 1.26 crore profit in the corresponding period of the previous fiscal. Subsequently, shares of Premier Explosives hit upper circuit of 10% at Rs 889.15 against the previous close of Rs 808.35 on BSE.
The stock opened higher at Rs 829.95. After trading near the previous close of Rs 808.35 for a majority of the session, the defence stock hit upper circuit in the final hour of trade after the earnings were announced.
Premier Explosives shares have zoomed 158 percent in a year and risen 112 percent since the beginning of this year. In three years, the stock has climbed 678%. Total 0.76 lakh shares changed hands amounting to a turnover of Rs 6.51 crore on BSE. Market cap of the firm stood at Rs 956.04 crore.
The stock hit a 52-week low of Rs 305.10 on July 28, 2022.
In terms of technicals, the relative strength index (RSI) of Premier Explosives stands at 82, signaling the stock is strongly overbought. The stock has a beta of 0.7 in the last one year, indicating low volatility. Premier Explosives shares are trading higher than the 5 day, 10 day, 20 day but lower than the 50 day, 100 day and 200 day moving averages.
Revenue in the last quarter rose to Rs 61.95 crore against Rs 51.77 crore in the June quarter of 2022. Earnings per share (EPS) rose to Rs 7.64 in Q1 against Rs 2.17 in the June 2022 quarter.
Premier Explosives Limited is primarily engaged in the manufacture of high energy materials and allied products for the defence, space, mining and infrastructure industries. The company's geographical segments include India and the Rest of the world. It is focused on developing and manufacturing solid propellants for rockets and strap-on motors for satellite launch vehicles.
Shares of Premier Explosives Ltd zoomed to a record high today after the defence firm’s June quarter profit rose six times on a year-on-year basis. Premier Explosives reported a profit of Rs 8.21 crore in the June quarter against Rs 1.26 crore profit in the corresponding period of the previous fiscal. Subsequently, shares of Premier Explosives hit upper circuit of 10% at Rs 889.15 against the previous close of Rs 808.35 on BSE.
The stock opened higher at Rs 829.95. After trading near the previous close of Rs 808.35 for a majority of the session, the defence stock hit upper circuit in the final hour of trade after the earnings were announced.
Premier Explosives shares have zoomed 158 percent in a year and risen 112 percent since the beginning of this year. In three years, the stock has climbed 678%. Total 0.76 lakh shares changed hands amounting to a turnover of Rs 6.51 crore on BSE. Market cap of the firm stood at Rs 956.04 crore.
The stock hit a 52-week low of Rs 305.10 on July 28, 2022.
In terms of technicals, the relative strength index (RSI) of Premier Explosives stands at 82, signaling the stock is strongly overbought. The stock has a beta of 0.7 in the last one year, indicating low volatility. Premier Explosives shares are trading higher than the 5 day, 10 day, 20 day but lower than the 50 day, 100 day and 200 day moving averages.
Revenue in the last quarter rose to Rs 61.95 crore against Rs 51.77 crore in the June quarter of 2022. Earnings per share (EPS) rose to Rs 7.64 in Q1 against Rs 2.17 in the June 2022 quarter.
Premier Explosives Limited is primarily engaged in the manufacture of high energy materials and allied products for the defence, space, mining and infrastructure industries. The company's geographical segments include India and the Rest of the world. It is focused on developing and manufacturing solid propellants for rockets and strap-on motors for satellite launch vehicles.