Shares of Nibe Ltd surged 4.99% to hit the upper circuit at Rs 1,599.70 in Monday’s trade after the company announced a significant international order win in the defence segment.
In a regulatory filing, the Pune-based defence engineering firm confirmed receiving a purchase order worth Rs 150.6 crore from a leading Israel-based original equipment manufacturer (OEM). The contract involves the manufacturing and supply of Universal Rocket Launchers with a range of up to 300 kilometres.
The company stated that the project is to be executed by or before November 2027, but did not disclose the name of the client, citing confidentiality agreements.
Nibe Limited operates out of the MIDC Industrial Area in Chakan, Pune, and has been expanding its presence in the defence and aerospace sectors. The stock saw sharp investor interest following the announcement, touching its upper circuit limit of 5% early in the trading session.
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