Premier Explosives shares surged nearly 10% on Wednesday, April 22, following the announcement of a significant new contract. According to reports from Upstox, the stock rose as much as 9.60% to ₹544.80 per unit on the National Stock Exchange (NSE), while at 1:42 pm it was trading up 7.13% to ₹532.50 per share. The company's market capitalisation stood at ₹2,857.41 crore during the trading session.
In an exchange filing, Premier Explosives announced that it has secured an export order worth ₹350.23 crore for the supply of defence products to be delivered over a period of two years. As reported by Upstox, the company confirmed that the order does not fall within related party transactions, with the company's promoters stating they have no interest in the entity that awarded the contract.
According to Upstox data, the stock had hit its 52-week high of ₹684 per share on October 14, 2025, while its 52-week low of ₹370.90 apiece was recorded on April 25, 2025. The current trading levels represent a significant recovery from the recent lows, with the stock showing strong momentum following the contract announcement.
In a separate development reported by Upstox, the company announced the termination of a ₹18.90 crore worth export order for the supply of defence explosives secured from an international firm due to non-receipt of an export licence from the government. This contract termination appears to have been offset by the new ₹350 crore order announcement, contributing to the positive market response.
