Nibe shares hit 5% upper circuit on securing Rs 151 crore defence order from Israeli OEM
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Shares of defence engineering company Nibe Limited hit their 5% upper circuit at Rs 1,601.85 on the BSE on Monday after the firm announced an international 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—an advanced system being produced in India for the first time for global deployment.Calling it a landmark achievement, Nibe said the order underscores its commitment to the 'Atmanirbhar Bharat' and Make in India initiatives, aiming to deliver world-class defence technology from Indian soil.The Universal Rocket Launcher is positioned as one of the most advanced in its category, built to outperform current global alternatives. The deal also strengthens Nibe's presence in international markets while bolstering India's role in modern warfare capabilities.Through collaborations with international defence leaders, Nibe continues to develop indigenous, high-impact solutions for both the Indian Armed Forces and overseas clients, aligning with national priorities and boosting global defence innovation.Nibe Limited is an Indian defence technology firm engaged in the development, manufacturing, and integration of advanced military systems. It plays a key role in enhancing India's defence capabilities and export potential through innovation and global partnerships.Nibe's Relative Strength Index (RSI) stands at 58.5, suggesting neutral momentum. The MACD is at 78.8, above both the centerline and signal line—a bullish signal.The stock is trading above its 20-day, 30-day, 50-day, 100-day, and 150-day simple moving averages (SMAs), but remains below the 5-day, 10-day, and 200-day SMAs. Nibe shares closed at Rs 1,525.6 on Friday, up 0.5% on the BSE, while the Sensex gained 0.95%. The stock has climbed 47% in the past three months and surged 3,029% over the last three years. Its current market capitalisation is Rs 2,181 crore.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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