Premier Explosives share price targets: Shares of Premier Explosives Ltd have gained 46% in five sessions, reaching a 52-week high of Rs 764.90  in the current session against the close of Rs 524.65 on May 19 this year. The rally in the defence stock comes ahead of the Q4 earnings set to be announced on May 29. The sentiment on Dalal Street is also buoyant after another defence firm delivered a stellar set of Q4 earnings. Apollo Micro Systems net profit zoomed 163% to Rs 36.8 crore in Q4 compared to Rs 14 crore in Q4 FY25. Revenue zoomed 81% year-on-year to Rs 293.3 crore, led by robust execution against its swelling defence order book.

Meanwhile, Premier Explosives shares rose 7% to a 52-week high of Rs 764.90 in the current session against the previous close of Rs 714.70. Total 2.30 lakh shares of the firm changed hands amounting to a turnover of Rs 17.03 crore. Market cap of the firm rose to Rs 4067 crore. In the previous session, the defence stock closed 20% higher at Rs 714.

Kunal Kamble, Sr. Technical Research Analyst at Bonanza said, "Premier Explosives Limited has given a strong breakout above the major resistance zone near Rs 560 with a sharp bullish candle supported by heavy volume expansion, indicating strong buying momentum. The stock is trading above all key EMAs (20/50/100/200), confirming a healthy medium-term uptrend, while RSI near 78 reflects strong momentum though slightly overbought in the short term. Fresh entry can be considered on dips near Rs 690-700 for targets of Rs 760 and Rs 820 with stop loss at Rs 670. Existing holders should trail stop loss near Rs 685 to protect gains while maintaining bullish bias."

Technical analyst Jigar Patel shared his views on outlook of the stock. Patel from Anand Rathi advised booking profit in the stock. 

"Support is placed at Rs 680, while resistance stands at Rs 735. A decisive breakout above Rs 735 could open the door for further upside towards Rs 750. For the short term, the stock is expected to trade within the Rs 680 –Rs 750 range," said Patel. 

The multibagger defence stock has risen 786% in three years and zoomed 2532% in five years. In terms of technicals, the relative strength index (RSI) of the stock stands at 79.1, signaling it's trading in the overbought zone. 

The stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

Premier Explosives Limited is primarily engaged in the manufacture of high energy materials and allied products for the defence, space, mining and infrastructure industries. The company's geographical segments include India and the Rest of the world. It is focused on developing and manufacturing solid propellants for rockets and strap-on motors for satellite launch vehicles.