700 per cent returns in just 1 year: This small-cap stock receives multiple orders worth Rs 16.80 crore!

In addition to the above, the new plant will also cater production needs of defence critical parts and launcher system components.

Nibe Ltd informed the exchange (BSE) that the company has received 7 purchase orders from Larsen & Toubro Limited for manufacturing of bridge centre module structure for a total consideration of Rs 16.80 crore.   

Additionally, the company increased the existing overall operational capacity by 80 per cent. In addition to the above, the new plant will also cater production needs of defence critical parts and launcher system components.  

At the new plant, the company will install India’s first state of the art 16 Meter and 12 Meter (2 Nos) VMC (Vertical Matching Centre) machines, the structure of modular bridge machining, indigenous hull and turret machining for tracked vehicles.   

Today, shares of Nibe Ltd surged 5 per cent upper circuit to Rs 377.50 per share from its previous closing of Rs 359.55. The shares of the company saw a spurt in volume by more than 2 times on BSE.  

Incorporated in 2005, Nibe Ltd (formerly known as Kavita Fabrics Limited) has a market cap of Rs 445 crore. It is in the business of manufacturing critical components for defence, e-vehicles and software development. The company reported excellent results in both quarterly and annual financial statements.  

The stock gave multibagger returns of 700 per cent in just 1 year whereas BSE Small-Cap Index is up by 18 per cent. Investors should keep an eye on this small-cap stock.