Upper circuit alert: This multibagger defence stock reports a 142 per cent increase in net sales; gains over 300 per cent!

Shares of the company gained more than 130 per cent in the last six months.

Shares of Nibe Limited were locked in the upper circuit on Tuesday, gaining 5.00 per cent. The company has also delivered strong Quarterly Results in Q4FY24. The revenue of the company for Q4FY24 stood at Rs 152.17 crore which increased by 142.99 per cent YoY. The operating profit of the company stood at Rs 20.24 crore, while the PAT of the company stood at Rs 10.43 crore, from a profit of Rs 0.63 crore last year same quarter.

The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. The stock also gained over 130 per cent in the last six months. Recently, NIBE Limited signed a business agreement with Thales USA to become their Indian partner for supplying critical defence equipment to the Indian Navy. The agreement focuses on the design, manufacturing, installation, and supply of MM-7000 TACAN equipment, along with other related services. This collaboration strengthens NIBE's role in India's defence manufacturing sector and ensures the Indian Navy receives advanced technology and comprehensive support.

Nibe Limited is in the business of manufacturing critical components for defence, E-vehicles, and software development. The company offers strategic products & related research advancement. The E-vehicles branch deals in the design, development, manufacturing & trading of E-vehicles and delivers the best-in-class eco-friendly E-bikes. The plant manufactures a wide spectrum of critical components catering to the defence industry. The stock also delivered multibagger returns of over 300 per cent in the last one year.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.