1:5 Stock Split Approved: Defence Stock To Be Cheaper Soon, Shares Zoom 507% In 1-Yr

Small cap stock operating in the defence sector, Premier Explosives Ltd shares are unstoppable and delivering attractive returns to shareholders. Last trading price of Premier Explosives share on BSE is Rs 2499.40 per share with intraday gain of 4.06%. Premier Explosives share rally has been outstanding for past few days. In last 1-month only, Premier Explosives stock soared 69% and a massive 119% in last 6-months.

Earlier the company approved stock split/sub-division of share in the proportion of 1:5 and record date will soon be intimated for the same. In last 12 months, Premier Explosives announced an equity dividend amounting to Rs 1.70 per share and so far since September 2021 declared 21 dividends. More details below:

Premier Explosives Gives Approval To Stock Split: According to the exchange filing of Premier Explosive issued as on April 19, 2024, "The sub-division / split of existing 1 (one) Equity Share of face value of Rs.10 (Rupees ten only) each, fully paid up into 5 (Five) Equity Shares of face value of Rs. 2/- '(Rupees Two only) each, fully paid up by alteration of Capital Clause of the Memorandum of Association of the Company, subject to the approval of the members of the Company to be sought by means of Postal Ballot. The Record Date for the purpose of sub-division/split of existing equity shares will be intimated in due course."

Premier Explosives Share Performance & Return: The 52-week high price of Premier Explosives shares on BSE is Rs 2584.95 per share (as on 23/04/2024) and 52-week low price is Rs 400.50 per share (as on 27/04/2023), respectively. Premier Explosives Ltd shares soared 561% in last 2-years, gained 1557% in last 3-years, and 986% in last 5-years.

Premier Explosives Approves Fundraising: The BSE filing added, "raising of funds through issuance of instruments or security including equity shares or any other eligible securities by way of one or more public and/or private offerings including on a preferential allotment basis and/or a qualified institutions placement and/or rights issue and/or further public offering, in one or more of the tranches for an aggregate amount not exceeding Rs. 400 crores (Rupees Four Hundred Crores)."

About: Premier Explosives came into existence in 1980. Since inception it has been a research and innovation oriented company by manufacturing explosives and detonators with totally indigenous technology in 1980's and 1990's. In 2013, PEL started commercial-scale manufacture of detonators with Nickel Hydrazine Nitrate (NHN)as primary charge emerging as the world first to do so. Extending its research forte to defence products, in 2003 PEL forayed into development of solid propellants and today it is the only private entity in India manufacturing and supplying solid propellants for prestigious missiles like Akash, Astra, LRSAM, etc, according to BSE filing.

Disclaimer: The stock highlights the stock split, fundraising and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.