Nibe shares jumped 5% in early trade after the company informed exchanges that its subsidiary Nibe Space Private Limited signed an MoU with several leading infra & Defence Companies of India.
NIBE announced that its subsidiary Nibe Space Private Limited had signed a Memorandum of Understanding with several renowned Indian infrastructure and defence companies, as well as startups, to collaborate as a consortium for the supply of equipment, services, skills, systems, and support services, etc in order to build and operate a Private Earth Observation Constellation and corresponding ground segment to provide constellation on a lease basis, as well as images and analytics.
As of 10:01 am, Nibe shares were trading 5% higher at Rs 1,942.30 on the NSE.
