Premier Explosives shares are trading higher than the 5 day, 20 day, 50 day, 200 day but trading lower than the 100 day and 150 day moving averages. Shares of Premier Explosives Ltd are in news today after the company inked a Memorandum of Understanding (MOV) with Global Munition, a subsidiary of NIBE Ordnance and Maritime, to set-up a joint venture to make defence and aerospace products. Premier Explosives stock climbed 9.9% to end at Rs 516.55 on December 13 against the previous close of Rs 470 on BSE. In one year, the multibagger stock has gained 64.21% and risen 65.58% since the beginning of this year. The stock has gained 514.36% in two years. Total 1.24 lakh shares of the firm changed hands amounting to a turnover of Rs 6.35 crore on BSE on Friday. Market cap of the firm rose to Rs 2,773.04 crore.
Global Munition and Premier Explosives will hold equity in the ratio of 51:49 in the proposed joint venture.
Premier Explosives shares have a beta of 1.2, indicating very low volatility in a year.
In terms of technicals, the relative strength index (RSI) of the stock stands at 63.5, signaling it's trading neither in the overbought nor in the oversold zone. The share is trading higher than the 5 day, 20 day, 50 day, 200 day but trading lower than the 100 day and 150 day moving averages.
Premier Explosives Limited is primarily engaged in the manufacture of high energy materials and allied products for the defence, space, mining and infrastructure industries. The company's geographical segments include India and the Rest of the world. It is focused on developing and manufacturing solid propellants for rockets and strap-on motors for satellite launch vehicles.