Exciting Expansion for Globe Forge Limited! 🚀 | MCap 0.22 Cr | PE 1.40

Nibe Ordnance and Maritime Ltd's Globe Forge is gearing up to manufacture 200,000 pieces of 155 MM HE M107 rounds! 💥

🔑 Key Highlights:

- NIBE Ordnance and Maritime Limited's subsidiary 'Globe Forge Limited' has received 'Mega Projects' status for a new manufacturing facility.
- The facility is to be located at MIDC Shirdi, Taluka Rahata, Dist-Ahmednagar.
- Production will include 155 MM HE M107 rounds, 155 MM empty shells, fuzes (mechanical and electronic), and TNT explosives—totaling 200,000 pieces.
- Estimated project cost: Rs. 750 crores.
- Under 'Mega Project' status, Globe Forge will enjoy a 100% industrial promotion subsidy and power tariff subsidy, along with reimbursement/exemption from stamp duty and electricity contributions.
- Final approval hinges on obtaining necessary regulatory permissions and adhering to specified terms.

🔹Company Profile:

Name: Nibe Ordnance and Maritime Ltd
Symbol: NIBEORD, BSE:512091
PE: 1.4
Market Cap: ₹0.22 Cr. == Approx. $0.0 B
Sector: Consumer Durables - Gems, Jewellery And Watches

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🕒 This update of Nibe Ordnance and Maritime Ltd was recorded at January 11, 2025, 01:19 PM

Disc: Information provided in this tweet can be inaccurate, verify through the source before making any investment decision.