Defence Stock Rises 4.8% Following Major Acquisition of Premier Explosives Stake
A notable rise in defence stock was observed after the announcement of acquiring a significant stake in Premier Explosives for ₹1,550 crore.
Editorial Staff
1 min read
Updated 4 days ago
The defence stock experienced a notable increase of 4.8% after the company revealed its plans to acquire a 41.33% promoter’s stake in Premier Explosives.
This acquisition is valued at approximately ₹1,550 crore, marking a significant investment in the defence sector.
Premier Explosives is known for supplying hardware, avionics, and underwater systems, making this acquisition strategically important.