Promoter of defence multibagger stock acquires additional 2,39,800 shares through open offer of this gems and jewelry company

Critical components catering to the defence industry. In addition to this, the company also offers strategic products and related research advancements in the E-Vehicles division and the BVM R&D Foundation.

The Nifty index finally breached the much-anticipated 22,500 mark, opening at 22,505 and peaking at an intraday high of 22,526. Despite sessional volatility, it closed at 22,494, marking a 20-point increase. Over the week, the Nifty recorded a modest half-percent gain, forming a bullish candlestick pattern with a prominent lower shadow on the weekly chart, indicating buying interest at lower levels.

The Nifty maintained its pattern of higher highs and higher lows, remaining above all key moving averages on both daily and weekly charts, signaling continued bullish sentiment.

Notably, NIBE Ltd stood out on the last trading session of the week, hitting its upper circuit limit of 5 per cent on the BSE. The stock has seen a remarkable surge of 132.49 per cent in the past three months, with multibagger returns of 349.73 per cent over the last year.

Nibe Ltd, specialises in manufacturing a wide spectrum of critical components catering to the defence industry. In addition to this, the company also offers strategic products and related research advancements in the E-Vehicles division and the BVM R&D Foundation.

In an intriguing development, Nibe Ganesh Ramesh, the promoter of NIBE Ltd, made a significant acquisition through an open offer, acquiring 2,39,800 shares, representing 19.98 per cent of the total share/voting capital in Anshuni Commercials Ltd. Prior to this acquisition, Ganesh Ramesh Nibe held 50 per cent (599,950 shares), Manjusha Ganesh Nibe held 20 per cent (240,000 shares), and Nibe Limited held 5 per cent (60,000 shares) of the total share/voting capital of Anshuni Commercials Limited.

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