NIBE Limited bags order worth Rs12.80 crore from Adani Infra

19 Sep 2022 , 09:21 AM

NIBE Limited (formerly Kavita Fabrics) informed that the company has received a letter of intent of Rs12.80 crore from Adani Infra (India) Limited.

The company has received the letter of intent to design, engineer, manufacture, supply, and erection of pre-engineered buildings (PEB).

The company expects to complete the order within 6 months from the date of issuance of Notice to Proceeds (NTP).

NIBE Limited is a producer of semi-finished sarees and garment materials out of synthetic textiles. These goods are available in a variety of designs to meet the needs of the consumer. The Company’s semi-finished sarees and dress materials are further processed by its clients before being sold to end-users.

At around 9.24 AM, NIBE was trading at Rs425 down by 2.85% from its previous closing of Rs437.45 on the BSE. The scrip opened at Rs415.60 and touched intraday high and low of Rs450 and Rs415.60 respectively.

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