Premier Explosives recieves licence to manufacture RDX/RDX compounded product, share locked at upper circuit

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Premier Explosives share price locked at 5 percent upper circuit after it received a licence to manufacture RDX/RDX compounded products.

There were pending buy orders of 5,952 shares, with no sellers available.

The company received a license from petroleum and safety organisation for the manufacture of RDX / RDX compounded products — defence and HMX based explosives — defence at its Katepally plant, Yadadri Bhuvanagiri district, Telangana.

The license is valid upto March 31, 2025.

At 11:40 hrs, Premier Explosives was quoting at Rs 76.15, up Rs 3.60, or 4.96 percent on the BSE.

The share price declined 64 percent in last 1 year.

The share touched its 52-week high Rs 236.00 and 52-week low Rs 56.50 on 03 June 2019 and 25 March 2020, respectively.

Currently, it is trading 67.73 percent below its 52-week high and 34.78 percent above its 52-week low.