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It brought to light the involvement of Indian-made military equipment in the bombardment of Gaza.

These two companies are well-positioned to ride the boom in the explosives industry. But which stock will fare better in 2024?

Multibagger stock: Premier Explosives shares have clocked 198% returns (six months) to 2,060% returns (10 years), making it among the top bets in the defence sector.

Shares of Premier Explosives Ltd have more than doubled in a month, delivering 129% returns during the period. The defence stock, which stood at Rs 430.75 on July 3, 2023 ended at Rs 987.65 on August 2, 2023. Premier Explosives shares ended 0.64% lower at Rs 987.65 in the previous session. Total 0.24 lakh shares of the firm changed hands amounting to a turnover of Rs 2.29 crore on BSE. Market cap of the firm rose to Rs 1071 crore.

Shares of Premier Explosives Ltd delivered multibagger returns in the last three years. The multibagger defence stock, which closed at Rs 108.55 on July 31, 2020 hit a high of Rs 1002.80 today, delivering 823% returns during the period. An amount of Rs 1 lakh invested in the Premier Explosives stock three years ago would have turned into Rs 9.23 lakh today. In comparison, Sensex has risen 77.70 per cent during the period. The stock touched a record high of Rs 1026.40 on August 1, rising 9.41 per cent and a 52 week low of Rs 318 on August 4, 2022. The stock has gained 216% from its 52-week lo...