Nibe share price jumps over 6% after successful demonstration of Garudastra Advanced Mortar System

Nibe Limited shares surged more than 6% in early trade on June 18, 2026, after the company announced the successful demonstration of its advanced long-range 120mm vehicle-mounted mortar and bomb system, Garudastra, at the Infantry School in Mhow.

At around 9:56 AM, Nibe shares were witnessing strong buying interest following the development, as investors reacted positively to the company's progress in the defense sector.

Garudastra Demonstrates Advanced Combat Capabilities

The demonstration was conducted on June 17, 2026, and showcased the operational capabilities of Garudastra, developed by Nibe Limited in technical collaboration with a foreign OEM. The advanced weapon system demonstrated rapid shoot-and-scoot operations, a high rate of fire, Multiple Rounds Simultaneous Impact (MRSI) capability, and precision-guided munition performance using GPS and laser guidance.

During the trial, Garudastra successfully occupied a temporary firing position, became operational in less than 30 seconds, fired two rounds within 15 seconds, and quickly relocated to evade simulated counter-battery attacks. The system later re-engaged the target from its main firing position with high precision.

The company also highlighted Garudastra’s firepower by firing 12 rounds within 60 seconds using a two-person crew while maintaining exceptional accuracy. In the MRSI demonstration, three rounds fired on different trajectories struck the target simultaneously, showcasing enhanced battlefield effectiveness.

A major highlight was the successful firing of a precision-guided munition that achieved a direct hit on a compact 3m x 3m target from long range using GPS and laser guidance technology.

Supporting India's Defence Self-Reliance

Nibe stated that the successful demonstration reinforces its commitment to developing indigenous next-generation defense solutions under the Government of India's Atmanirbhar Bharat initiative. The company believes Garudastra's combination of mobility, precision, survivability, and firepower can serve as a significant force multiplier for modern armed forces.

Nibe Share Price Performance

As of 9:56 AM, Nibe shares were trading sharply higher, gaining over 6% during the session.

The strong market reaction reflects investor optimism about Nibe's growing presence in the defense manufacturing sector and the successful advancement of its indigenous military technologies.