Multibagger small-cap defence stock NIBE is expected to attract investor interest in Thursday’s trade, June 18, after the company showcased Garudastra, a 120mm vehicle-mounted mortar and bomb system, to the Indian Army.
NIBE, in technical collaboration with a foreign OEM, successfully demonstrated the capabilities of Garudastra, its advanced long-range 120mm vehicle-mounted mortar and bomb system, on an NC-NC basis, the company said in a regulatory filing.
“The demonstration showcased rapid shoot-and-scoot operations, a high rate of fire, Multiple Rounds Simultaneous Impact (MRSI), and precision engagement using guided munitions with GPS and laser guidance. The demonstration was conducted at the Infantry School, Mhow, on June 17, 2026,” NIBE said.
The successful demonstration highlighted NIBE Limited’s commitment to delivering a next-generation firepower solution to the Indian Armed Forces under the Atmanirbhar Bharat vision.
According to the company, Garudastra occupied a temporary firing position, came into action in under 30 seconds, and engaged the target with two rounds in less than 15 seconds. The system then vacated the location within 15 seconds to evade simulated counter-battery fire before relocating to its main firing position, where it re-engaged the target with similar accuracy.
Garudastra subsequently demonstrated its exceptional rate of fire, with a two-man crew firing 12 rounds in 60 seconds while maintaining a high degree of accuracy.
The system also successfully executed a Multiple Rounds Simultaneous Impact (MRSI) mission, in which three rounds were fired on different trajectories and with varying flight times, striking the target simultaneously and delivering concentrated firepower on the objective, the company added.
NIBE is a leading Indian defence technology company engaged in the development, manufacturing, and integration of advanced defence systems.
Wealth Creator
The company’s shares have made significant strides on Dalal Street in recent weeks, despite sharp swings in the broader market. The stock ended each of the last two months in the green, delivering a cumulative gain of 77%.
Zooming out, the stock has witnessed a largely one-way rally since 2022, barring a sharp correction in the first quarter of 2025. However, it recovered those losses in the subsequent months and went on to deliver multibagger returns, cementing its position as one of the market’s notable wealth creators.
Between June 2022 and July 2024, the stock enjoyed a powerful bull run, generating returns of nearly 3,900%. During this period, it also scaled a record high of ₹2,025 apiece. From a price of around ₹8 per share a decade ago, NIBE has surged 20,212% to its current market price of around ₹1,625.
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