Nibe Limited’s stock jumped over 4% after the company secured a major land allotment for its upcoming defence manufacturing facility in Shirdi Industrial Area, Maharashtra. The Maharashtra Industrial Development Corporation (MIDC) has allotted 3,27,239 Sq. Mts. at Plot No. A-1/2 for this strategic project.
This development aligns with Nibe’s long-term vision to enhance its manufacturing capabilities and support India’s self-reliance in defence production. The land allotment, disclosed on February 10, 2025, follows the company’s earlier announcement on January 10, 2025. It is subject to the payment of a premium and compliance with MIDC’s terms.
The upcoming facility will focus on advanced defence products, reinforcing India’s ‘Make in India’ initiative. This move is expected to boost local manufacturing, create employment opportunities, and strengthen India’s indigenous defence ecosystem.
Nibe shares opened at ₹1,403.40, reaching a high of ₹1,450.00 and a low of ₹1,300.00. The stock’s 52-week high stands at ₹2,245.40, while the low is ₹1,100.05. As of 11:35 AM, the shares were trading 3.15% higher at Rs 1,433.35.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
