Rs 1,200 Crore Order Book: Defence Engineering Company Sign MOU with Maharashtra Government at World Economic Forum in Davos
The stock gave multibagger returns of 297 per cent from its 52-week low of Rs 191.35 per share.
The group company of Tembo Global Industries Limited, Tembo Defence Products Private Limited, has been invited to participate in a significant event at the World Economic Forum in Davos, Switzerland. During this prestigious event, the company will sign a Memorandum of Understanding (MOU) with the Government of Maharashtra to establish a state-of-the-art defence manufacturing facility in the state. This collaboration is in line with the Government of India’s “Make in India” initiative, aimed at boosting indigenous manufacturing and strengthening the nation’s defence capabilities.
The signing of this MoU signifies a pivotal step in strengthening India's defence manufacturing sector, advancing indigenous production capabilities, and enhancing the country's defence preparedness. The partnership underscores the shared commitment between Tembo Defence Products and the Government of Maharashtra to bolster the nation’s security infrastructure.
The proposed defence manufacturing facility is expected to play a key role in enhancing India’s self-sufficiency in defence production, further promoting the growth of the “Make in India” initiative and supporting the nation’s broader security objectives. The MoU signing in Davos reflects the strategic importance of this collaboration and highlights the confidence both Tembo Defence Products and the Government of Maharashtra have in the potential of this venture.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
Incorporated in 2010, Tembo Global Industries is a leading industrial player specializing in the production and assembly of critical components like Pipe Support Systems, Fasteners, and Anchors. The company caters to diverse sectors including industrial, commercial, utility, and OEM, with a strong focus on HVAC and Anti-Vibration Systems. Tembo's expertise extends to the fabrication and installation of ductile pipes, HDB pipes, and MS plates, with its products certified by renowned organizations like Underwriter's Laboratory Inc. (USA) and FM Approval (USA). As a 2-star Export House, Tembo has a significant global presence. The company has diversified its operations in recent years, venturing into EPC contracting and securing orders from prominent infrastructure clients. In 2023, Tembo expanded into the defence and solar power sectors, demonstrating its commitment to growth and innovation.
The company has a market cap of Rs 816.24 crore and as of September 30, 2024, the order book stands at Rs 1,200 crore. The stock gave multibagger returns of 297 per cent from its 52-week low of Rs 191.35 per share.
Disclaimer: The article is for informational purposes only and not investment advice.