NIBE surges on inking licensing agreement with DRDO for technology of Expandable Mobile Shelters
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NIBE is currently trading at Rs. 1491.00, up by 34.55 points or 2.37% from its previous closing of Rs. 1456.45 on the BSE.
The scrip opened at Rs. 1383.65 and has touched a high and low of Rs. 1529.25 and Rs. 1383.65 respectively. So far 57460 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 1557.95 on 28-Feb-2024 and a 52 week low of Rs. 312.30 on 15-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1557.95 and Rs. 1365.00 respectively. The current market cap of the company is Rs. 1956.83 crore.
The promoters holding in the company stood at 49.96%, while Institutions and Non-Institutions held 11.21% and 38.83% respectively.
NIBE has entered into a ‘Licensing Agreement with Director, Vehicles Research and Development Establishment (VRDE), Ahmednagar a constituent laboratory under Defence Research and Development Organization (DRDO), Ministry of Defence, Government of India and Director, Industry Interface and Technology Management (DIITM) for transfer of technology of Expandable Mobile Shelters which has been developed by DRDO during the course of its research activities. This agreement is effective form February 22, 2024.
DRDO grants a non-exclusive license for 10 years from date of its execution to utilize Expandable Mobile Shelters for manufacture in India for end use/ supply to Armed Forces etc. The Company will pay royalty for Technology transfer to DRDO as may be mutually decided between both the parties. The product developed by DRDO and manufactured, marketed by the Company shall have marking, ‘Product Developed by DRDO’ or words to this effect.
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.
