Defence Penny Stock Under Rs 10 in Focus as the Company Receives Purchase Orders Worth Rs 282.61 Crore from One of the Leading Defence Company

Nibe Ordnance and Maritime Limited, formerly known as Anshuni Commercials Limited, announced that its subsidiary, Globe Forge Limited, has secured a significant order. The company has received purchase orders totalling Rs 282.61 Crore from a prominent domestic defence company. This contract is for the supply of Empty Shells and is a key win for the firm's defence sector operations. The execution of this large-scale order will be completed in multiple phases, with the final delivery scheduled by October 2026. This development highlights the company's growing role in supporting India's defence industry.

Nibe Ordnance & Maritime Ltd, originally incorporated as Anshuni Commercials Limited in 1984 and initially focused on the jewellery trade, has undergone a significant transformation. Under new management, the company is now pivoting towards armament manufacturing. This strategic shift entails the production and sale of a wide array of military equipment, including guns, gun carriages, torpedoes, tanks, armoured vehicles, machine guns, rifles, ammunition, and explosives, along with their associated components and spare parts, marking a complete departure from its previous business activities.

The stock’s 52-week high is Rs 7.52 per share and its 52-week low of Rs 1.51 per share. The company has a market cap of Rs 1.15 crore.  According to the shareholding pattern, the promoters of the company own a 74.43 per cent stake in the company and the rest 25.57 per cent is owned by public shareholders. The stock gave multibagger returns of 398 per cent from its 52-week low of Rs 1.51 per share.

Disclaimer: The article is for informational purposes only and not investment advice.