NIBE touches roof on executing manufacturing agreement with Munition India
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NIBE is currently trading at upper limit of Rs. 1463.50, up by 69.65 points or 5.00% from its previous closing of Rs. 1393.85 on the BSE.
The scrip opened at Rs. 1463.50 and has touched a high and low of Rs. 1463.50 and Rs. 1463.50 respectively. So far 12252 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 1463.50 on 26-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. 1463.50 and Rs. 1190.00 respectively. The current market cap of the company is Rs. 1921.90 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 executed ‘the Exclusive Manufacturing Agreement’ with Munition India (MIL) to manufacture and supply hardware to MIL for export of Ammunitions in product range of MIL.
The Company and MIL will work together for export of ammunitions in product range of MIL for a period of 10 years from date of execution of ‘the Exclusive Manufacturing Agreement’ or such extended period as may be mutually agreed between both the parties.
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.
