Premier Explosives rose 5.8% to Rs 373 at 15:00 IST on BSE after the company announced that it has received an order today, 4 January 2017, from Indian Space Research Organization.
The announcement was made during market hours today, 4 January 2016.Meanwhile, the S&P BSE Sensex was down 29.65 points or 0.11% at 26,613.59.
On the BSE, 22,338 shares were traded in the counter so far as against average daily volume of 7,744 shares in the past one quarter. The stock had hit a high of Rs 385.90 and a low of Rs 355.05 so far during the day.
The order is for production of PSOM-XL developmental motor for use in the polar satellite launch vehicle (PSLV).
With receipt of the order, Premier Explosives would be foraying into the niche-space sector, which is a significant milestone for the company.
Premier Explosives is one of the major companies in India manufacturing the entire range of commercial explosives and accessories for the civil requirement.
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