desk
Share
News Topical, Digital Desk : Nibe Ltd announced after the stock market closed on Friday that it has signed a significant supply contract with the Indian Army, Ministry of Defence, Government of India, with a total value of ₹292.69 crore. According to the company, under this contract, NIBE will manufacture and supply ground equipment, accessories, ESP, and ammunition for the Universal Rocket Launcher System. This system will be capable of integrating a variety of rockets, including those with long ranges of 150 km and 300 km.
In a filing to the exchange, the company stated that 10% of the total contract value (including taxes and duties) must be deposited as a performance-cum-warranty bank guarantee within 30 days of contract signing. This contract is a significant project for NIBE in the field of military equipment and defense systems manufacturing. The contract is expected to strengthen the company's capabilities and presence in the defense sector, and also increase the prospects for future defense orders.
Stock Performance: The company's shares closed at ₹1,247 on Friday, up 9.22%. Over the past year, the company's stock has declined 21.72%.
Read More: Big IPOs Soon: A Flood of IPOs Will Come in 2026! These Big Companies Will List
--Advertisement--
