Nibe clarifies status on ₹600 crore Army tender
after close1 source ↓written by the desknot a recommendation
- tender for loitering
- ₹600 crore
- during trading
- 10%
- of the Army's
- 64%
- supplying the remaining
- 36%
Defence manufacturer Nibe Ltd has stated it has not received confirmation regarding the ₹600 crore tender for loitering munitions from the Indian Army. This clarification follows reports suggesting it was among the lowest bidders. Nibe's shares rose nearly 10% during trading, reflecting market speculation on the tender outcome.
• Tata Advanced Systems reportedly emerged as the lowest bidder, expected to fulfill 64% of the Army's requirement.
• Nibe is positioned as the second-lowest bidder, potentially supplying the remaining 36%.
Immediate market sentiment may remain volatile as further clarity on the tender is awaited.
Not investment advice. For informational purposes only.