The said order is to be executed within a period of 18 months.
Shares of Premier Explosives surged 16 percent intraday on September 11 after the company won an order from Vikram Sarabhai Space Centre.
The company in its BSE release said that it has received an order from Vikram Sarabhai Space Centre (VSSC) for production of PSOM-XL segments (solid propellant) for their satellite launch vehicles.
This is the first order to be executed at the solid propellant plant located at Katepally Greenfield project inaugurated in August 2019.
The company has already supplied this product to SHAR and it was successfully test fired in 2018 at Sriharikota.
The said order is to be executed within a period of 18 months.At 1235 hrs, Premier Explosives was quoting at Rs 185.80, up Rs 17.75, or 10.56 percent on the BSE.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.