NIBE Limited Soars on Earth Observation Constellation Deals and New Orders
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NIBE hits the roof post signing pact with multiple entities for building Earth Observation Constellation
NIBE was locked in 5% upper circuit at Rs 1942.30 after the company announced the signing of an MoU with various entities for building and operating a private Earth Observation Constellation. In a regulatory filing made on Sunday (September 8), the company stated that its subsidiary Nibe Space has signed a memorandum of understanding (MoU) with leading infra & defence companies and start-ups of India to collaborate as a consortium. Click here to connect with us on WhatsApp The entities that are a part of this consortium are Larsen & Toubro, Centum Electronics, Space Fields, SISIR Radar, CYRAN AI Solutions, AgniKul Cosmos, DV2JS Innovation, Thales Alenia Space and Thales India. The consortium would supply equipment, services, skills, systems and support services, etc. for its aim to build and operate a Private Earth Observation Constellation & corresponding ground segment to provide constellation on lease basis, offer images and analytics as a service. The MOU is valid for a period of 12 to 24 months. The company would sign and execute comprehensive, long term definitive agreement within the time period after due negotiations and discussion with each of the party as stated above. NIBE trades in electronic components, fabrication materials, and provides technical consultancy. It also provides services for the design, supply, erection, testing, and commissioning of low and medium voltage lines and substations on a turnkey basis. The company's consolidated net profit surged to Rs 7.91 crore in the quarter ended June 2024 as against Rs 0.82 crore during the previous quarter ended June 2023. Sales rose to Rs 110.06 crore in Q1 FY25 from Rs 25.80 crore in Q1 FY24. Powered by Capital Market - Live News Also Read GST Council set to meet today, talks on rate rationalisation to kick off Stock Market LIVE Updates: Sensex up 200pts, Nifty at 24,900; Financials, FMCG up, Metal, O&G drag LIVE news updates: Supreme Court resumes hearing on Kolkata rape-murder case Senco Gold jumps 5%, hits new high on healthy outlook; zooms 212% in 1 year Schengen transit visa a must for connecting flights via Europe: Here's why
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Nibe share price locked in 5% upper band after units secure multiple orders
Nibe hits upper circuit: Shares of defence product manufacturer Nibe were locked in 5 per cent upper circuit at Rs 1,942.30 per share on Monday, September 9, 2024. The surge in the Nibe shares came after the company announced multiple order wins by its subsidiaries. Click here to connect with us on WhatsApp In an exchange filing, Nibe said, "We are pleased to inform you that "Nibe Defence And Aerospace," a subsidiary of Nibe Limited, has received four purchase orders from a leading infra & defence company of India." According to the order details, Nibe has bagged orders of Rs 50 crore for supply, assembling and integration of various electronics equipment viz; various drive units, junction boxes, amplifier units, DC units, outrigger control and power distribution unit (OCPDU) and power distribution unit (PDU-R P) etc. This contract needs to be executed in tranches on or before March 31, 2028, the company said in a statement. In a separate filing, Nibe said, "We are pleased to inform you that "Nibe Space Private Limited," a subsidiary of Nibe Limited, has signed a Memorandum of Understanding (MoU) with leading infrastructure and defence companies and startups of India." More From This Section Stock Market LIVE Updates: Sensex up 150pts, Nifty at 24,900; Financials, FMCG gain, Metal, O&G drag IPO Alert: Kross opens today with a 20% GMP surge; should you subscribe? Premium Bharti Airtel's valuations to sustain on market share & cash flow gains Rupee flat as markets expect RBI support; other Asian currencies slip Gala Precision Engg bucks market trend, lists at 42% premium on bourses Nibe unit has bagged the order from companies including Larsen & Toubro Limited, Centum Electronics Limited, Space Fields Private Limited, SISIR Radar Private Limited, CYRAN AI Solutions Private Limited, AgniKul Cosmos Private Limited, DV2JS Innovation LLP, Thales Alenia Space, France, and Thales India Private Limited Under the terms of the order, the subsidiary will collaborate as a consortium for supply of equipment, services, skills, systems and support services etc. for its aim to build and operate a Private Earth Observation Constellation & corresponding ground segment to provide constellation on lease basis, offer images and analytics as a service These MOUs are valid for a period of 12 to 24 months, the company revealed. The market capitalisation of the company is Rs 2,550.66 crore, according to Bombay Stock Exchange (BSE). Incorporated in 2005, Nibe Ltd specialises in manufacturing critical components for the defence sector, e-vehicles, and Software Development. The company engages in the fabrication and machining of components used in the Defence sector and the assembly of components for e-vehicles. Nibe Ltd also provides strategic products and research advancements through its e-vehicles division and the BVM R&D Foundation. Its Defence segment manufactures structures, sub-assemblies, and assemblies for mobile weapon launchers like BrahMos Missile, MRSAM, and Pinaka rocket launcher, as well as structural and engineering systems for naval applications. Meanheile, the electronic division focuses on sensors, wiring, control systems, and military software. Through its subsidiary, Nibe e-motor, the company offers products including e-bicycles, e-rickshaws, batteries, motors, hybrid PCUs, solar induction cookers, and water treatment units. Additionally, Nibe Ltd's clients in the Defence sector include all three Indian defence forces and L&T Defence. At 11:30 AM, shares of Nibe continued to remain locked in the 5 per cent upper band at Rs 1,942.30 per share. In comparison, BSE Sensex was trading 0.23 per cent higher at 81,373.08 levels. Also Read USFDA issues six observations for Granules' Gagillapur unit; stock falls 5% Suzlon Energy shares rise 3% on winning large wind energy order from NTPC Senco Gold jumps 5%, hits new high on healthy outlook; zooms 212% in 1 year SpiceJet shares fly 5.5% in trade; here is what is driving the stock Ion Exchange shares rise after winning order worth Rs 168 cr; check details
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NIBE Limited's stock hits upper circuit after signing agreements for building an earth observation constellation and securing multiple orders through its subsidiaries.
NIBE Limited's Stock Surges on Multiple Positive Developments
NIBE Limited, an Indian technology company, saw its stock price soar to the upper circuit limit following a series of positive announcements. The company's shares hit the roof, gaining 5% to reach Rs 263.15 on the BSE, with over 1.46 lakh shares changing hands on the exchange
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.Earth Observation Constellation Agreement
One of the key drivers behind the stock's surge was NIBE's announcement of signing agreements with multiple entities for building an earth observation constellation. This strategic move positions the company at the forefront of space technology and data services, potentially opening up new revenue streams and market opportunities
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.Subsidiary Success: Multiple Orders Secured
Adding to the positive momentum, NIBE Limited disclosed that its subsidiaries have secured multiple orders, further bolstering investor confidence. These new contracts are expected to contribute significantly to the company's future growth and financial performance
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.Market Performance and Trading Activity
The stock's performance was particularly noteworthy, with NIBE shares locked in the 5% upper circuit. This indicates strong buying interest and positive market sentiment towards the company's recent developments. The surge in trading volume, with over 1.46 lakh shares traded, further underscores the heightened investor interest in NIBE Limited
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Company Background and Future Prospects
NIBE Limited, formerly known as Kavveri Telecom Products, has been making strides in the technology sector. The company's focus on earth observation technology and its ability to secure multiple orders through its subsidiaries demonstrate its diversified business model and growth potential. These recent developments are likely to strengthen NIBE's position in the market and could pave the way for long-term value creation for shareholders
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.Investor Outlook
The positive news flow and subsequent stock price rally have generated significant interest among investors. As NIBE Limited continues to expand its operations and secure new contracts, market participants will be closely watching the company's ability to capitalize on these opportunities and translate them into sustainable growth and profitability
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