Multibagger defence stock in news today on fresh order win 

Shares of Premier Explosives Ltd are in news today after the firm said the company won an order worth Rs 89.20 crore from Singareni Collieries Company (SCCL). Premier Explosives stock climbed 1.51% to Rs 454.45 on Tuesday against the previous close of Rs 447.70 on BSE. In one year, the multibagger stock has gained 87.70% and risen 45.68% since the beginning of this year. In two years, the stock has rallied 414%. Total 0.19 lakh shares of the firm changed hands amounting to a turnover of Rs 87.28 lakh on BSE. Market cap of the firm rose to Rs 2443 crore.

The order is for supply of SME explosives, LDC explosives (Cap & Non Cap) and accessories (Cast Booster, Detonating Fuse, Cord Relay, Nonel and Electronic Detonators - Factory set) for use in OB blasting at different Opencast Projects of SCCL to be delivered over a period of 2 years.

The company in a communication to bourses said, “This is to inform you that we have received an order for Rs. 89.20 crores from Singareni Collieries Company Limited (A Government Company) for supply of SME explosives, LDC explosives (Cap & Non Cap) and accessories (Cast Booster, Detonating Fuse, Cord Relay, Nonel and Electronic Detonators - Factory set) for use in OB blasting at different Opencast Projects of SCCL to be delivered over a period of 2 years.”

Premier Explosives shares have a beta of 1.3, indicating very low volatility in a year.

In terms of technicals, the relative strength index (RSI) of the stock stands at 39.4, signaling it's trading neither in the overbought nor in the oversold zone. The share is trading higher than the 5 day, 10 day but lower than the 20 day, 50 day, 100 day and 200 day moving averages.

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.