110% Returns YTD, 1:5 Stock Split: Not HAL Or BDL, But This Defence Stock Below Rs 700, Hits 5% Upper Circuit

When Sensex and Nifty 50 fell by over 1% each, and when almost every defence stock witnessed sharp selling pressure on August 2, there was only one stock that recorded an exceptional buying. The bulls were at rapid speed taking this defence stock which is below Rs 700 currently and has a return on equity (RoE) of 11.20%, to hit 5% upper circuit. Meaning? No sellers, only buyers were seen in this defence stock on Friday! Who is it?

It is none other than Premier Explosives which recently split in the ratio of 1:5.

On BSE, after market hours, Premier Explosives share price ended at Rs 676.25 apiece, at 5% upper circuit with market cap of Rs 3,635.60 crore. Upper circuits usually means that there were several buyers in the stock but no sellers on August 2nd.

While Premier Explosives witnessed bull run, other defence stocks like HAL, BDL, BEL, Bharat Forge, Astra Micro Systems, Cochin Shipyard and MTAR Technologies fell by 1-3%.

The stock is a multibagger of 2024. This defence stock has outperformed giants like Hindustan Aeronautics (HAL), Bharat Dynamics (BDL) and Bharat Electronics (BEL, with gains of nearly 117% YTD.

The stock's 52-week high and low is at Rs 909.35 apiece and Rs 188.99 apiece.