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Premier Explosives share price falls nearly 3% after ICRA revises credit rating for line of credit

Share price of Premier Explosives fell 2.8% to Rs 146 against previous close of Rs 150.20 on BSE. Premier Explosives share has lost 2.4% in two days

twitter-logoBusinessToday.In | December 31, 2019 | Updated 15:26 IST
Premier Explosives share price falls nearly 3% after ICRA revises credit rating for line of credit
The microcap stock has fallen 38.11% during last one year

Premier Explosives share price fell in trade today after the firm said ICRA has revised the credit rating for line of credit (LOC) of the firm. Share price of Premier Explosives fell 2.8% to Rs 146 against previous close of Rs 150.20 on BSE. Premier Explosives share has lost 2.4% in two days.

The microcap stock has fallen 38.11% during last one year. Its market cap stood at Rs 158.06 crore on BSE. 300 shares of the firm changed hands amounting to turnover of Rs 0.44 lakh on BSE.

Rating of LOC of the firm which is valid till December 19, 2020 has been assigned as [A-] (Stable) for long term and at [ICRA][A2+] for short term. Premier Explosives is engaged in the business of high energy materials (commercial explosives and defence explosives).

Its commercial explosives consist of bulk explosives, packaged explosives, cast booster, emulsion booster, detonators and detonating fuse, which are used in mining and infrastructure sectors. Its defence explosives consist of solid propellants, tear gas grenades, explosive bolts, pyro actuators, smoke markers, pyrogen igniters and pyro devices, among others, which are consumed in manufacture of missiles and other defense items.

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