Nibe moves up on the BSE
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NIBE is currently trading at Rs. 1554.00, up by 11.10 points or 0.72% from its previous closing of Rs. 1542.90 on the BSE.
The scrip opened at Rs. 1542.90 and has touched a high and low of Rs. 1579.80 and Rs. 1515.00 respectively. So far 2485 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2245.40 on 08-Jul-2024 and a 52 week low of Rs. 760.00 on 16-Jan-2024.
Last one week high and low of the scrip stood at Rs. 1730.00 and Rs. 1515.00 respectively. The current market cap of the company is Rs. 2230.19 crore.
The promoters holding in the company stood at 53.08%, while Institutions and Non-Institutions held 8.29% and 38.64% respectively.
Nibe has been granted the status of ‘Mega Projects’ for its proposed manufacturing facility at MIDC, Shirdi, Taluka, Rahata, District, Ahmednagar, to manufacture aircraft parts such as Vertical Stabilizer, Horizontal Stabilizer, Wings, Jet Engine, Cockpit, Fuselage (Body), Slats, Spoiler, Aileron, Flaps, Elevaor, Rudder etc. at an revised estimated cost of Rs 800 crore by Department of Industries, Energy, Labour and under the package Scheme of Incentives Policy, 2019.
Under the status of the Mega project, certain benefits would be made available to the company includes Industrial Promotion subsidy to the extent of 100% eligible investment made in a period of 5 years from April 01, 2025, or to the extent of 100% of amount of SGST payable with in a period of 5 years, whichever is less; Power tariff Subsidy; and Reimbursement and exemption from certain expenses/payments on account of stamp duty, electricity contribution to PF etc.
NIBE (Formerly known as Kavita fabrics) manufactures synthetic fabrics in the form of semi-finished sarees and dress materials. These products are offered in various designs as per customer requirements.
