Re 1/Sh Dividend, Record Date Sept 14: Defence Firm Inks MoU, Receives Order; Shares Up 191 YTD

Small cap company engaged in Aerospace & Defence industry, NIBE Ltd shares rallied 1.72% to settle at 1849.85 apiece. NIBE shares offered return of 269% in last 1 year. The company informed today that its subsidiary Nibe Space Private Limited inked MoU with several renowned infra & Defence Companies and Startups of India to 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.

The names of the parties with whom the Memorandum of Understanding is entered include 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.

NIBE Bags Order: The company on September 7 declared, "we are pleased to inform that "Nibe Defence And Aerospace Ltd" Subsidiary of Nibe Limited has received Four Purchase Orders from a leading infra & Defence Company of India, 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. amounting to Rs. 50.01 cores (inclusive of all taxes and duties)."

NIBE Shares Performance: The 52-week high price of NIBE Ltd shares on BSE is Rs 2245.40 per share (as on 08/07/2024) and 52-week low price is Rs 481.00 per share (as on 08/09/2023), respectively. The company's market capitalisation stood at Rs 2,429.26 crore. NIBE shares surged 444% in last 2-years, rallied 3089% in last 3-years, and offered stunning returns of 27,264% in last 5-years.

NIBE Fixes Record Date For Dividend: As per the August 13 BSE filing of NIBE, "Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Saturday, September 14, 2024, as the Record Date for determining entitlement of Members to dividend for the financial year ended March 31, 2024. If the dividend as recommended by the Board of Directors is approved at the AGM, payment of such dividend, subject to deduction of tax at source."

NIBE Dividend: The Board of NIBE on May 27 recommended dividend of Rs. 1/- per Equity Share of Rs. 10/- each for the financial year ended March 31, 2024, subject to approval of the Members at the ensuing Annual General Meeting (AGM) of the Company, The Dividend, declared, will be paid within 30 days from the date of AGM to those Members who are entitled thereto.

About NIBE Ltd: Nibe Limited is listed on the BSE and has its registered office in Pune. Nibe Limited is also involved in the production of structures, sub-assemblies, and assemblies of mobile weapon launchers for programs such as Pinaka launcher and MRSAM launcher, and other such products for the tri services of Indian Defence, according to its official website.

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