Suryastra rocket testfire sends Nibe 10% higher; stock up 27% in 3 days

About this update from Nibe Industrier Ab Class B

Shares of Nibe surged more than 10 percent during Friday's morning trade after the Pune-based defence equipment manufacturer successfully testfired its Suryastra rockets off the Odisha coast earlier this week.The stock was up nearly 11 percent intraday and has rallied around 27 percent over the last three sessions since news of the rocket trials emerged.Nibe said it successfully conducted firing demonstrations of the EXTRA and Predator Hawk "Suryastra" rockets, which have strike ranges of 150 km and 300 km, respectively, from the Integrated Test Range in Chandipur, Odisha. The back-to-back trials were carried out on May 18 and 19.Also Read: Bank Nifty rises over 1% as RBI may not consider off-cycle rate hike to defend rupee; AU SFB, Axis among top gainersThe company said both tests achieved all mission objectives with high precision. Officials noted that the rockets recorded a circular error probable (CEP) of just 1.5 metres and 2 metres, a key benchmark used to measure missile accuracy. The successful trials validated the long-range precision strike capability of the Suryastra system.Achieving a CEP of under 2 metres at ranges of up to 300 km places the Suryastra among the world's most accurate long-range rocket artillery systems. The capability is expected to help the Indian Army strike high-value targets with minimal collateral damage.Also Read: Wrong Parle, yet again! 'Melody' buzz sends this stock up 15% in 3 daysThe NSE-listed company had earlier secured a purchase order from the Indian Army in January under emergency procurement for the supply of Suryastra universal rocket launchers and rockets.Suryastra is positioned as India's first indigenous universal multi-calibre rocket launcher system, designed for precision surface-to-surface deep-strike operations against hostile targets. The system is aimed at bridging the gap between conventional field artillery and heavy ballistic missile platforms while offering a flexible and rapid-response precision strike solution for the armed forces.

View stock analysis, news, and events for Nibe Industrier Ab Class B