India's Premier Explosives rises on approval to set up ammunition plant

Premier Explosives

18/03/2024 04:36

** Shares of Premier Explosives Ltd  PRMR.NS  rise as much
as 5.2% to 1,473.85 rupees; last up 3.7%
    ** Co says got an in principle approval from  State Level
Single Window Clearance Authority to set up plant at Rayagada in
Odisha state
    ** Adds, setting up defence explosives, raw materials,
ammunition plant with an investment of about 8.64 bln rupees 
($104.3 million)
    ** Stock trading above its 200-day simple moving avg since
June 2023; on track to snap three quarters of gains 
    ** PRMR down ~8.6% YTD


($1 = 82.8680 Indian rupees)

 (Reporting by Meenakshi Maidas)
 ((meenakshi.maidas@thomsonreuters.com;))