Premier Explosives rose 10.81% to Rs 394 at 15:16 IST on BSE after the company said it received approval for listing its shares on the National Stock Exchange with effect from Friday, 17 June 2016.
The announcement was made during trading hours today, 16 June 2016.Meanwhile, the BSE Sensex was down 219.80 points, or 0.82%, to 26,511.84.
On BSE, so far 82,000 shares were traded in the counter, compared with an average volume of 7.13 lakh shares in the past one quarter. The stock hit a high of Rs 389.90 and a low of Rs 366.50 so far during the day. The stock hit a record high of Rs 519 on 7 January 2016. The stock hit a 52-week low of Rs 234.10 on 17 June 2015. The stock had underperformed the market over the past one month till 15 June 2016, falling 2.56% compared with 3.70% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 13.63% as against Sensex's 8.30% rise.
The small-cap company has an equity capital of Rs 8.86 crore. Face value per share is Rs 10.
Shares of Premier Explosives shall be traded in the normal market segment (rolling settlement) in compulsory demat for all investors on the National Stock Exchange (NSE).
Net profit of Premier Explosives rose 68.32% to Rs 3.40 crore on 39% rise in net sales to Rs 58.45 crore in Q4 March 2016 over Q4 March 2015.
Premier Explosives (PEL) 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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