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Premier Explosives shares surge on receiving industrial license

The share price of the company closed Rs 271.80, up 10.74 per cent against its previous close.

BT Online Bureau   New Delhi     Last Updated: June 19, 2015  | 17:21 IST
Premier Explosives shares surge on receiving industrial license

Shares of Premier Explosives jumped around 11 per cent on Friday after the company informed BSE on June 18 post market hours that it has received industrial license from the Department of Industrial Policy and Promotion (DIPP), for Flexible Liner shape charge; Explosives Reacting Armour and Single Base Propellant.

Premier Explosives is one of the major companies manufacturing the entire range of explosives and accessories for the civil requirement.

The share price of the company closed Rs 271.80, up 10.74 per cent against its previous close.

The promoters' holding in the company stood at 47.39 per cent while institutions and non-institutions held 1.15 per cent and 51.46 per cent, respectively.

Premier Explosives is a small cap company with market capitalisation of Rs 217.04 crore.

For the quarter ended March 2015, the company reported net profit of Rs 2.02 crore, down 15.48 per cent against Rs 2.39 crore in the corresponding quarter previous year.


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