 "Premier Explosives hits record high on bagging defence production license")
Shares of Premier Explosives were trading higher by 8% to Rs 361, extending their previous day’s 15% surge on the BSE, after the company announced that it has received an industrial license for manufacturing defence items.
“The company has received on 07 July 2015, industrial license vide license dated the 01 July 2015, from the Department of Industrial Policy and Promotion (DIPP),” Premier Explosives said in a statement.
The licence is for products such as military fuses of all types, munition 20 mm and above, war heads of all types including filing and assembling at Peddakandukur, Yadagirigutta Mandal, district-Nalgonda, in the state of Telangana, the company added.
The stock touched a record high of Rs 368 and has seen more than a two-fold jump in trading volumes. Till 1150 hours, around 185,000 shares changed hands against an average 93,000 shares traded daily in the past two weeks on the BSE.
“The company has received on 07 July 2015, industrial license vide license dated the 01 July 2015, from the Department of Industrial Policy and Promotion (DIPP),” Premier Explosives said in a statement.
The licence is for products such as military fuses of all types, munition 20 mm and above, war heads of all types including filing and assembling at Peddakandukur, Yadagirigutta Mandal, district-Nalgonda, in the state of Telangana, the company added.
The stock touched a record high of Rs 368 and has seen more than a two-fold jump in trading volumes. Till 1150 hours, around 185,000 shares changed hands against an average 93,000 shares traded daily in the past two weeks on the BSE.