NESCO surges on incorporating wholly owned subsidiary

01 Jan 2020 Evaluate

NESCO is currently trading at Rs. 667.80, up by 7.90 points or 1.20% from its previous closing of Rs. 659.90 on the BSE.

The scrip opened at Rs. 665.00 and has touched a high and low of Rs. 672.60 and Rs. 663.00 respectively. So far 266 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 712.00 on 24-Dec-2019 and a 52 week low of Rs. 420.00 on 18-Feb-2019.

Last one week high and low of the scrip stood at Rs. 692.05 and Rs. 652.00 respectively. The current market cap of the company is Rs. 4734.91 crore.

The promoters holding in the company stood at 68.19%, while Institutions and Non-Institutions held 8.11% and 23.70% respectively.

NESCO has incorporated a Section 8 Company as its Wholly Owned Subsidiary (WOS) namely, ‘Nesco Foundation for Innovation and Development’. The company has been incorporated to carry out CSR activities of the Company and other activities. It is been incorporated with an initial subscription of 10,000 equity shares of Rs 10 each.

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.

NESCO Share Price

833.60 -3.20 (-0.38%)
28-Mar-2024 16:01 View Price Chart
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