Multibagger defence stock closes lower despite fresh order win 

Shares of Premier Explosives slipped over 4% on Wednesday even as the defence firm said has won a fresh export order for Rs 2.6 crore. "Premier Explosives Limited has received an export order for Rs.2.60 crores for supply of Commercial Explosives to be delivered within a period of 2 months," said Premier Explosives . 

Premier Explosives stock slipped 4.5% intra day to Rs 597.15 today against the previous close of Rs 625.30 on BSE. Later, the stock ended 3.59% to Rs 602.85. 

In one year, the multibagger stock has gained 1.43% and risen 590% in two years. Total 0.75 lakh shares of the firm changed hands amounting to a turnover of Rs 4.57 crore on BSE today. Market cap of the firm slipped to Rs 3,231 crore. 

Premier Explosives shares have a beta of 1.2, indicating very high volatility in a year.

In terms of technicals, the relative strength index (RSI) of the stock stands at 67.5, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading higher than the 5 day, 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.