Good News: This multibagger stock just secured a fresh order from L&T; do you own it?

Nibe Limited (formerly known as Kavita Fabrics Limited) has informed the exchange that it has received multiple orders towards the supply of material and services total amounting to Rs 21.95 crore from Larsen & Toubro Limited. The time period by which the orders are to be executed is within six to seven months.

The company is in the business of manufacturing critical components for defence, e-vehicles and software development.

Nibe is engaged in manufacturing and fabrication of heavy structures related to defence industry directly and indirectly at their plant located in Chakan, Pune. It has also bagged work orders with reputed players in the market which affirms a positive growth for the company in upcoming financial year.

Shares of Nibe have been on a phenomenal roll in 2022. Year to date the stock has rallied 600 per cent. Over the last 3 months, the scrip has furnished exceptional returns of 394 per cent.

On Thursday, the stock of Nibe Limited closed at Rs 375.45 per share, hitting a 5 per cent lower circuit.

Keep a close eye on this trending stock for more action in the coming trading sessions!