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Nelcast is currently trading at Rs 24.45, up by 0.30 points or 1.24% from its previous closing of Rs 24.15 on the BSE.
The scrip opened at Rs 24.65 and has touched a high and low of Rs 24.85 and Rs 24.25 respectively. So far 4950 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 29.45 on 07-Sep-2011 and a 52 week low of Rs 13.40 on 26-Nov-2010.
Last one week high and low of the scrip stood at Rs 26.35 and Rs 24.10 respectively. The current market cap of the company is Rs 210.11 crore.
The promoters holding in the company stood at 73.22% while Institutions and Non-Institutions held 0.56% and 26.22% respectively.
In a bid to cater the off-road vehicle industry, iron-castings manufacturer Nelcast is expanding its product base. The company is developing a range of castings for use in construction and earth-moving equipment. The range includes small and large castings for use in non-critical and critical applications, such as force transmission and load-bearing.
These castings are being developed at Nelcast’s foundries in Gudur (Andhra Pradesh) and Ponneri (Tamil Nadu). The two foundries have a total capacity of 1.5 lakh tonnes annually. At present, the company is operating at one lakh tonnes annually and looking at capacity optimisation at both foundries.
Heavy commercial vehicles account for 45% of Nelcast’s business, while tractors contribute 35-40%. The rest comes from the railways and other segments. Exports make up 5% of the business. Nelcast exports to Sweden, North America and Australia.
Further, the company has signed up with a few international players in the Indian market. There is also potential for exports. Some of the products could be commercially launched by the end of this fiscal year.
The company clocked sales of Rs 507.40 crore in the financial year 2011, registering a year-on-year growth of 59%. It recently announced a stock split to raise liquidity.
| Company Name | CMP |
|---|---|
| Electrost Castings | 171.60 |
| AIA Engineering | 3800.00 |
| Kirloskar Ferrous | 559.70 |
| Nelcast | 150.20 |
| Alicon Castalloy | 845.80 |
| View more.. | |
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