Shares of Premier Explosives shot up 5% on 11 September after the company announced signing a Memorandum of Understanding (MoU) with Astra Microwave Products to develop and sell multiple products jointly. 

In an exchange filing, Premier Explosives said, “This is to inform you that today our Company, Premier Explosives Limited, has signed a Memorandum of Understanding (MOU) with Astra Microwave Products Limited, Hyderabad, for a strategic alliance to develop and sell multiple products jointly.”

The Indian explosives business Premier Explosives Limited (PEL) specialises in creating high-energy materials and related products for a range of applications, including mining, infrastructure, space exploration, and defence. 

The company was founded in 1980 by Dr A N Gupta who is a distinguished gold medalist in mining engineering. Premier Explosives produces bulk and packaged explosives, detonators, detonating cords, and case-bonded propellants, among other products. 

The research and development (R&D) facility is recognised by the Department of Scientific and Industrial Research (DSIR). The company supports major space and defence programs, including Astra, Akash, and LRSAM. 

At 12:42 pm, the shares of Premier Explosives were trading 2.59% higher at Rs 577.25 on NSE.

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