Premier Explosives announced on Friday, long after market closure that it had bagged an order from the Ministry of Defence. This was for providing chaffs and flares and the order was worth Rs.33.18 crore to be executed within 12 months.

The market is thrilled with the news and the stock price rose 7% to the day’s high-point till now at Rs.360. Its 52-week high is at Rs.519.

The company’s total Order book as on 30th September 2016 stood at Rs.273 crore of which explosives comprised of Rs.161 crore, Defence was at Rs.87 crore and Services at Rs.25 crore. In fact in its Q2FY17 performance, defence segment showed a whopping 99% (YoY) jump up.