Premier Explosives signs supply contract worth Rs44.58 crore with Defence Ministry

Premier Explosives Ltd has informed to the exchanges that the Company has signed a contract with Ministry of Defence (Army) at New Delhi on May 11, 2022.

The contarct is for supply of NFM – new family of Munitions for a total value of Rs44.58 crore (including GST), to be delivered within twenty four months from the effective date of contract, said company in a regulatory filing on Thursday.

Further, the production of these items will be done from its facility at Katepally, it added.

On Thursday, Premier Explosives ended at Rs295.45 apiece down by Rs15.55 or 5% from its previous closing of Rs311 apiece on the BSE.

The scrip opened at Rs305 and has touched a high and low of Rs305 and Rs295.45 respectively today.

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( With inputs from indiainfoline)