Premier Explosives rises 4% on Apollo Micro Systems deal buzz

Apollo Micro Systems gained 1% and Premier Explosives climbed 4% after ET reported that Apollo is nearing a Rs 2,300-2,500 crore deal to acquire Premier Explosives, including the cost of an open offer to minority shareholders. Premier Explosives' board is scheduled to meet today. The proposed deal would combine two Hyderabad-based defence companies amid rising sector growth.