Introduction:
Defence stock has announced a joint venture with a subsidiary of NIBE Ordnance and Maritime Limited for manufacturing Defence and Aerospace products, holding equity at a 51:49 ratio. This collaboration aims to enhance technological and production capabilities in the sector.
Share Price movement of Premier Explosives:
On December 16, 2024, Premier Explosives Ltd (NSE: PREMEXPLN) opened at ₹528.50, up 2.42% from its previous close of ₹516.00. The stock reached a high of ₹567.60 and a low of ₹528.00. Currently it is trading at ₹567.60, a 10% increase, with a market cap of ₹3,051.49 crore.
Premier Explosives hits upper circuit:
Premier Explosives Limited has signed a Memorandum of Understanding with Global Munition Limited, a subsidiary of NIBE Ordnance and Maritime Limited, to establish a joint venture for manufacturing Defence and Aerospace products. The partnership will see Global Munition Limited and Premier Explosives holding equity in a 51:49 ratio.
As per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has committed to regularly updating stakeholders on developments within the joint venture. This will ensure transparency and keep shareholders informed of progress as events unfold.
Details regarding the specifics of the joint venture, required by the Securities and Exchange Board of India Circular dated 13th July 2023, are provided in Annexure-I for reference. This announcement serves to keep all pertinent parties informed and records updated on the strategic move.
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Recent news About Premier Explosives :
Premier Explosives recently announced a strategic partnership with Global Munition Limited to develop and manufacture key defense and aerospace products, aiming for a 51:49 equity split. This initiative seeks to enhance their market position and technological advancements in the sector.
Stock performance of Premier Explosives for Period of 1 week, 6 months and 1 year:
Over the past week, the stock performance of Premier Explosives showed a gain of 5.35%. However, over the last six months, it experienced a decline of 37.5%. Despite this, the one-year return stands impressively at 59.4%, indicating significant long-term growth.
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Shareholding pattern of Premier Explosives :
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 41.33 | 41.33 | 41.33 |
| FII | 0.36 | 0.62 | 0.27 |
| DII | 8.37 | 9.44 | 10.27 |
| Retail & others | 49.93 | 48.59 | 48.11 |
About Premier Explosives :
Premier Explosives Limited specializes in manufacturing a diverse range of explosives and propellants used primarily in the defense and aerospace sectors. The company also develops products for mining and infrastructure projects, underpinning its role in critical industrial applications.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
