New Delhi, May 26 -- NIBE, a small-cap defense stock, hit the 5% upper circuit in early trade on Monday, May 26, reaching Rs.1,601 apiece following a significant order win. The company informed investors on Saturday via a stock exchange filing that it had received an export purchase order valued at USD 17.52 million (approximately Rs.150.62 crore) from a globally renowned technology-based company in Israel.

The order involves the manufacturing and supply of universal rocket launchers with a range capability of up to 300 km - a highly advanced technology being produced in India for the first time for the global market.

"This is a landmark achievement for NIBE Limited and a proud milestone for India's defense manufacturing sector. With th...