NIBE surges after inking technology agreement with Israel-based Elbit Systems

NIBE jumped 7.87% to Rs 1791.80 after the company announced a strategic technology collaboration agreement with Elbit Systems, a globally renowned technology company from Israel.

This partnership will enable the manufacturing and supply of the Universal Rocket Launcher (SURYA), a highly advanced defense system capable of engaging targets with precision over a range of up to 300 km.

This technology transfer marks the first time that such a sophisticated system will be produced in India, paving the way for both domestic and international markets.

"The universal rocket launcher is set to revolutionize modern warfare with its remarkable capabilities and performance, positioning NIBE Limited as a key player in the global defense sector, the company stated.

Elbit Systems Land, a division of Elbit Systems, is a global leader in the design, development, and integration of advanced land-based defense solutions. The company specializes in a wide range of platforms and technologies, including armored vehicles, artillery systems, unmanned ground vehicles, and combat vehicle modernization.

NIBE is a leading Indian defense technology company, specializing in the development, manufacturing, and integration of advanced defense systems.

The company's consolidated net profit declined 30% to Rs 7.64 crore on a 25.8% drop in total income to Rs 113.64 crore in Q4 FY25 over Q4 FY24.

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