Multibagger Smallcap Stock With Nearly 8000% Returns In 3 Years Hits Upper Circuit After DRDO Deal

multibagger smallcap stock with nearly 8000% returns in 3 years hits upper circuit after drdo deal

multibagger smallcap stock with nearly 8000% returns in 3 years hits upper circuit after drdo deal

Multibagger stock: Shares of aerospace and defence manufacturer NIBE hit upper circuit of 5 per cent during early trade on Thursday. The small-cap stock hit an intraday high of Rs 1529.25 and was locked in upper circuit around 10 am. The spurt in the stock price came quick on the heels of the company announcing that it had entered a Licensing Agreement for transfer of technology (ToT) of expandable mobile shelters and solar heated shelters with laboratories under Defence Research and Development Organisation (DRDO).

Both the agreements will provide NIBE the needed licenses to use technologies that have been developed by DRDO. The Company will pay royalty for the ToT. The company will have this non-exclusive license for a period of 10 years.

NIBE is only allowed to utilise the technology for manufacture of Solar Heated Shelters in India and for sale in licensing region. For the Expandable Mobile Shelters, too, the company can only manufacture them in India. They can only be sold for end use/supply to Armed Forces and similar purposes.

NIBE: A Smallcap Multibagger Stock

NIBE has delivered eye-popping returns in the past couple of years, data furnished by Bombay Stock Exchange shows. In the past two months (year-to-date), NIBE’s share price has gone up 141.15 per cent. Over the course of the past 6 months, the stock has appreciated 205.85 per cent. In the past year, NIBE’s share value has seen a rise of 263.29 per cent. In the past 3 years, it has delivered 7844.15 per cent returns, while in the past 5 years, it has given investors a stellar return of 24096.99 per cent.

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