NESCO gains on reporting rise in Q2 net profit

13 Nov 2018

NESCO is currently trading at Rs. 458.50, up by 1.25 points or 0.27% from its previous closing of Rs. 457.25 on the BSE.

The scrip opened at Rs. 457.30 and has touched a high and low of Rs. 468.00 and Rs. 457.00 respectively. So far 4150 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 647.20 on 16-Jan-2018 and a 52 week low of Rs. 405.00 on 08-Oct-2018.

Last one week high and low of the scrip stood at Rs. 468.00 and Rs. 452.20 respectively. The current market cap of the company is Rs. 3239.75 crore.

The promoters holding in the company stood at 68.18%, while Institutions and Non-Institutions held 7.81% and 24.01% respectively.

The company has reported marginal rise of 1.90% in its net profit at Rs 49.31 crore for second quarter ended September 30, 2018 as compared to Rs 48.39 crore for the same quarter in the previous year. Total income of the company increased by 13.57% at Rs 105.13 crore for Q2FY19 as compared Rs 92.57 crore for the corresponding quarter previous year.

NESCO is a tool manufacturing company. The company’s engineering products include forging hammers and presses, blowroom lines and high production cards for the textile industry, and sucker rod pumps for onshore oil recovery. The company also provides equipment to the Indian Railways, numerous Ordnance Factories, and Forging Plants.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323