Premier soars over 11%; to receives compensation from DFCC

Premier Limited soared over 11% at Rs 39.70 per share on BSE during Thursday’s intraday trade.

The company is due to receive compensation from DFCC Ltd (a subsidiary of Indian Railways) for compulsorily acquiring a part of Company’s land.

In this connection, the company received Rs 83.51 crore (net) as a part payment towards the above matter. Of this, Rs 62.5 crore has been utilised to repay term debt, all public fixed deposits and other costs debts. The balance has been used for operational purposes.    

Meanwhile, on NSE the stock attracted a traded volume of 4,60,676 shares and a traded value of 184.18 lakh on Thursday.

Premier Limited is engaged in offering machine tool, parts and accessories, and fabricated structural products of iron or steel.

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