Order From Israel: Indian Defence Stock Soaring
Hyderabad, May 27 (Maxim News): Operation Sindoor brought two benefits to India. On the one hand, it eliminated terrorist groups hiding in the enemy country. On the other hand, the world examined the performance of Indian weapons on the battlefield. Those who witnessed it say that adding Indian technologies to them, rather than relying solely on weapons purchased from abroad, gave them a big advantage.
With this, Indian defence company Naibi Limited has recently received an order from the Israeli company for the supply of universal rocket launchers. The value of this order has been revealed to be Rs. 150 crore. With the arrival of the latest deal, while investors have been focusing on domestic defence stocks for the past few weeks, the price of Naib company shares has registered a 5 per cent increase in intraday. With this, the price of this small-cap defence stock is currently trading at Rs. 1,602 each. However, it is known that the stock’s 52 week high price is Rs. 2,245.
Pune-based Naibi is known for manufacturing rocket launchers with a range of around 300 km. The company is expected to deliver the order by November 2027. However, the company has kept the details of the Israeli company confidential for now. It is believed that the order will help the company gain global recognition and expand its business. Naibi also said that it is the first in the country to manufacture a high-tech universal rocket launcher for the global market.
Naibi stock has given investors a return of 16,000 percent in the last 5 years. In fact, in June 2020, the stock price was just Rs. 9.93 per share. But today it has reached Rs. 1600. Also, the stock has seen an increase of 18 percent in the last month. As the defence stocks boom continues, investors are continuing their focus on the shares of many listed companies in this sector. (Maxim News)
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