India, Jan. 2 -- A micro cap stock in the business of manufacturing and trade of fabricated metal products saw its stock surge by 5 percent, soon after the company's subsidiary got defence licence from the Government of Maharashtra. With a market cap of Rs 940 Cr, Tembo Global Industries Ltd saw its stock hit its upper circuit of Rs 607 which is 5 percent higher than the previous close of Rs 578.

Delta Exchange banner What's the News? On Friday, Tembo Global Industries announced on the National Stock Exchange that its subsidiary- Tembo Classic Engineering Private Limited has received Defence Manufacturing Licence from the Government of Maharashtra in order to set up a small arms manufacturing facility in the state.

This has marked a sig...