NIBE shares soar 8% on signing pact with DRDO for modular bridging systems

NIBE shares rose over 8 per cent after it secured the technology transfer license for its modular bridging system from the DRDO

Shares of defence technology company, NIBE, soared over 8 per cent in Tuesday's intraday trade as it secured the technology transfer license for its modular bridging system from the Defence Research and Development Organisation (DRDO). 

 

NIBE’s stock rose as much as 8.01 per cent during the day to ₹1,812 per share, the biggest intraday gain since February 7 this year. The stock pared gains to trade 4.22 per cent higher at ₹1,749 apiece, compared to a 0.09 per cent advance in Sensex as of 9:53 AM. 

 

Shares of the company extended gains to their third day while they have risen 2.5 per cent this year, compared to a 5,5 per cent advance in the benchmark BSE Sensex. NIBE has a total market capitalisation of ₹2,503.54 crore, according to BSE data.   Track LIVE Stock Market Updates Here

 

NIBE inks licensing pact with DRDO

NIBE signed a licensing agreement with the DRDO and Development Establishment (Engineers), Pune, for the transfer of technology of the 'Modular Bridging System',  it said in an exchange filing on Monday. 

 

Developed by DRDO, the system is a state-of-the-art, mechanically launched mobile bridge designed to support the rapid deployment of spans ranging from 14 to 46 metres for tracked and wheeled vehicles, according to the statement. 

 

This agreement marks a key milestone in Nibe’s commitment to the Government of India’s "Make in India" and "Atmanirbhar Bharat" initiatives in the defence sector, the statement said. The company has secured exclusive manufacturing and supply rights for 10 years to deliver the system to the Indian Armed Forces and other government agencies within specified licensing regions. 

 

"NIBE is fully committed to upholding the highest standards of quality, precision, and compliance in the manufacture of the Modular Bridging System, ensuring timely and efficient support to the national security infrastructure," it said. 

 

The Modular Bridging System is a complex, mechanically launched mobile solution designed for rapid deployment, enabling tracked and wheeled vehicles to cross obstacles efficiently. 

About NIBE

The company's expertise spans from manufacturing artillery ammunition and missile systems to small arms and advanced electronics. It is engaged in the development, manufacturing, and integration of sophisticated defence systems.