Nibe share price locked in 5% upper band after units secure multiple orders
Source: Business Standard
Nibe hits upper circuit: Shares of defence product manufacturer Nibe were locked in 5 per cent upper circuit at Rs 1,942.30 per share on Monday, September 9, 2024.
The surge in the Nibe shares came after the company announced multiple order wins by its subsidiaries.
In an exchange filing, Nibe said, “We are pleased to inform you that “Nibe Defence And Aerospace,” a subsidiary of Nibe Limited, has received four purchase orders from a leading infra & defence company of India.”
According to the order details, Nibe has bagged orders of Rs 50 crore for supply, assembling and integration of various electronics equipment viz; various drive units, junction boxes, amplifier units, DC units, outrigger control and power distribution unit (OCPDU) and power distribution unit (PDU-R P) etc.
This contract needs to be executed in tranches on or before March 31, 2028, the company said in a statement.
In a separate filing, Nibe said, “We are pleased to inform you that “Nibe Space Private Limited,” a subsidiary of Nibe Limited, has signed a Memorandum of Understanding (MoU) with leading infrastructure and defence companies and startups of India.”
Nibe unit has bagged the order from companies including Larsen & Toubro Limited, Centum Electronics Limited, Space Fields Private Limited, SISIR Radar Private Limited, CYRAN AI Solutions Private Limited, AgniKul Cosmos Private Limited, DV2JS Innovation LLP, Thales Alenia Space, France, and Thales India Private Limited
Under the terms of the order, the subsidiary will collaborate as a consortium for supply of equipment, services, skills, systems and support services etc. for its aim to build and operate a Private Earth Observation Constellation & corresponding ground segment to provide constellation on lease basis, offer images and analytics as a service
These MOUs are valid for a period of 12 to 24 months, the company revealed.
The market capitalisation of the company is Rs 2,550.66 crore, according to Bombay Stock Exchange (BSE).
Incorporated in 2005, Nibe Ltd specialises in manufacturing critical components for the defence sector, e-vehicles, and Software Development.
The company engages in the fabrication and machining of components used in the Defence sector and the assembly of components for e-vehicles. Nibe Ltd also provides strategic products and research advancements through its e-vehicles division and the BVM R&D Foundation.
Its Defence segment manufactures structures, sub-assemblies, and assemblies for mobile weapon launchers like BrahMos Missile, MRSAM, and Pinaka rocket launcher, as well as structural and engineering systems for naval applications.
Meanheile, the electronic division focuses on sensors, wiring, control systems, and military software. Through its subsidiary, Nibe e-motor, the company offers products including e-bicycles, e-rickshaws, batteries, motors, hybrid PCUs, solar induction cookers, and water treatment units.
Additionally, Nibe Ltd’s clients in the Defence sector include all three Indian defence forces and L&T Defence.
At 11:30 AM, shares of Nibe continued to remain locked in the 5 per cent upper band at Rs 1,942.30 per share. In comparison, BSE Sensex was trading 0.23 per cent higher at 81,373.08 levels.
First Published: Sep 09 2024 | 11:35 AM IST
