Premier Explosives, one other smallcap multibagger stock climb up to 5%. Here's why
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On Wednesday, shares of Astra Microwave Products rose 4% to its day’s high of Rs 910 on BSE while those of Premier Explosives shot up 5% to a high of Rs 588 as both the companies signed a memorandum of understanding (MoU) to develop and sell products together. “We wish to inform you that today we have signed a Memorandum of Understanding (MOU) with Premier Explosives Limited, Hyderabad, for a strategic alliance to develop and sell multiple products jointly,” said Astra Microwave in its filing to the exchange. However, any other details pertaining to the agreement or the type of products have not been disclosed by either of the parties involved. Astra Microwave Products is primarily engaged in the business of design, development and manufacture of sub-systems for Radio Frequency and microwave systems used in defense, space, meteorology and telecommunication. In the last one year, the stock has given multibagger returns of 112% while gainin...