Nibe Limited enters into licensing agreement with DRDO unit

Nibe Limited has entered into a Licensing Agreement with Research & Development Establishment (Engrs.) (R&DE(E)), Pune, Defence Research and Development Organisation (DRDO), India, Ministry of Defence, Government of India for Transfer of Technology of Modular Bridging System of various lengths from 14m to 46m.

Nibe to utilize the "Technology" for a period of 10 years from the date of this agreement to manufacture Modular Bridging System in India for the use of Indian Armed Forces/other Government Agencies (both Central & State).

DRDO will provide complete details of technical know-how and testing method for the same.

Nibe to launch the products within 24 months from the date of this agreement. "Modular Bridging System", is a complex multidisciplinary mechanically launched mobile bridging system of various lengths from 14m to 46m which is designed to support crossing over of tracked and wheeled vehicles.

Shares of NIBE Ltd was last trading in BSE at Rs. 1675.85 as compared to the previous close of Rs. 1675.40. The total number of shares traded during the day was 34531 in over 2728 trades.

The stock hit an intraday high of Rs. 1744.75 and intraday low of 1656.00. The net turnover during the day was Rs. 58245022.00.

Source : Equity Bulls

Keywords

NIBE INE149O01018 LicensingAgreement RandDEE Pune DRDO