Shares of Premier Explosives Ltd rose nearly 6% to ₹640.10 on Tuesday after the company said it received orders worth ₹429.56 crore from India’s Ministry of Defence for the supply of chaffs and flares to the Indian Air Force.

The Secunderabad-based company said the orders, which include goods and services tax (GST), are to be executed within 12 months.

The contract, awarded by the Ministry of Defence on behalf of the IAF, involves the supply of chaffs and flares-countermeasure systems used by military aircraft to divert radar-guided and heat-seeking missiles.

Premier Explosives said the contract was awarded by a domestic entity and is not a related-party transaction. The company added that no promoter or group company has any interest in the entity awarding the order.

Founded in 1980,

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