Good News: This multibagger defence company has received an order from L&T worth Rs 19.88 crore!

Shares of Nibe have been on a phenomenal roll. Over the last 6 months, the scrip has furnished exceptional returns of 315 per cent.

Nibe Limited has informed the bourses that it has received one purchase order from Larsen & Toubro Limited for assemblies and sub-assemblies of heavy fabricated structures for a total consideration of Rs 19.88 crore (inclusive of all taxes and duties).

Nibe is engaged in the manufacturing and fabrication of heavy structures related to the defence industry, directly and indirectly at their plant located in Chakan, Pune. It has also bagged work orders with reputed players in the market which affirms positive growth for the company in the upcoming financial year. 

Shares of Nibe have been on a phenomenal roll. Over the last 6 months, the scrip has furnished exceptional returns of 315 per cent. Year to date, the stock is up by 16 per cent.

Keep a close eye on this trending stock for more action in the coming trading sessions!