Nibe Limited Subsidiary Secures License for Firearm Manufacturing and Proof Testing
Nibe Defence and Aerospace Limited, a subsidiary of Nibe Limited, has been granted a significant license that expands its operational capabilities in the defense sector. The license permits the manufacturing and proof-testing of firearms and ammunition.The regulatory authorization was provided by the Department for Promotion of Industry and Internal Trade (DPIIT) within the Ministry of Commerce & Industry, Government of India. This grant aligns with provisions set forth under the Arms Act, 1959, and the Arms Rules, 2016, as issued by the Ministry of Home Affairs.
The acquisition of this license has a direct impact on Nibe Limited's strategic positioning. It expands the company's capabilities across the defence manufacturing value chain and reinforces its commitment to developing advanced technologies. Specifically, Nibe is now focused on precision-engineered systems for Arms of Caliber above 12.7MM.
The issued license holds a lifetime validity for the subsidiary.
NIBE Stock Price Movement
NIBE Limited stock saw a strong finish on Friday, rallying by 6.35% and closing the session at ₹1590.40 after climbing from its previous close of ₹1501.6. The climb was supported by high intraday movement, with the equity trading through a range that spanned from a low of ₹1492.40 to a daily peak of ₹1634.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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