Hot Pursuit     12-May-22
Premier Explosives tumbles 29% in eights days
Premier Explosives hit a lower circuit of 5% at Rs 295.45, extending losses for eight day in a row.

The stock has declined 29% in eight sessions, from its recent closing high of Rs 416.10 recorded on 29 April 2022.

On the technical front, the stock's RSI (relative strength index) stood at 29.526. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading below its 50-day and 100-day simple moving average (SMA) placed at 342.95 and 299.16, respectively. It has managed to hold above its 200-day SMA placed at 269.56.

In a regulatory filing made during market hours today, Premier Explosives said that it has signed a contract with Ministry of Defence (Army) for supply of NFM - new family of Munitions for a total value of Rs 44.58 crore, to be delivered within twenty-four months from the effective date of contract.

The production of these items will be done from our facility at Katepally, the company further said.

Premier Explosives is engaged in the manufacture of high-energy materials like bulk explosives, packaged explosives, detonators, detonating fuse, solid propellants, pyrogen igniters, pyro devices, etc., having applications in mining, infrastructure, defence, space, homeland security, and such other areas.

On a consolidated basis, the company reported a net profit of Rs 0.61 crore in Q3 FY22 as compared to a net loss of Rs 5.55 crore in Q3 FY21. Net sales rose 3.6% to Rs 50.62 crore in Q3 FY22 over Q3 FY21.

Previous News
  Premier Explosives reports consolidated net profit of Rs 3.10 crore in the September 2021 quarter
 ( Results - Announcements 28-Oct-21   18:01 )
  Board of Premier Explosives recommends Final Dividend
 ( Corporate News - 17-May-23   12:34 )
  Premier Explosives receives order worth Rs 9.73 cr
 ( Corporate News - 06-Jul-23   10:59 )
  Premier Explosives hits the roof on receiving arms licence
 ( Hot Pursuit - 28-Sep-20   09:23 )
  Premier Explosives reports consolidated net loss of Rs 5.69 crore in the September 2020 quarter
 ( Results - Announcements 23-Oct-20   15:36 )
  Premier Explosives reports consolidated net profit of Rs 2.69 crore in the March 2021 quarter
 ( Results - Announcements 28-Jun-21   17:49 )
  Premier Explosives to announce Quarterly Result
 ( Corporate News - 08-May-23   19:20 )
  Premier Explosives conforms to revised quality standards
 ( Corporate News - 19-Feb-18   12:18 )
  Premier Explosives standalone net profit declines 70.94% in the March 2018 quarter
 ( Results - Announcements 25-May-18   10:05 )
  Premier Explosives standalone net profit rises 14.69% in the March 2019 quarter
 ( Results - Announcements 20-May-19   14:31 )
  Premier Explosives receives license for factory at Ketepally, near Hyderabad
 ( Corporate News - 13-Dec-19   14:26 )
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