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Last Updated : Sep 11, 2019 12:46 PM IST | Source: Moneycontrol.com

Premier Explosives skyrockets 16% on solid propellant order win

The said order is to be executed within a period of 18 months.

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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.

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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.

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First Published on Sep 11, 2019 12:46 pm
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