Nelco Ltd.

Nelco is currently trading at Rs. 239.50, up by 7.55 points or 3.26% from its previous closing of Rs. 231.95 on the BSE.

The scrip opened at Rs. 232.00 and has touched a high and low of Rs. 243.50 and Rs. 232.00 respectively. So far 48845 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 372.05 on 14-Aug-2018 and a 52 week low of Rs. 142.05 on 23-Mar-2018.

Last one week high and low of the scrip stood at Rs. 243.50 and Rs. 220.30 respectively. The current market cap of the company is Rs. 542.62 crore.

The promoters holding in the company stood at 50.09%, while Institutions and Non-Institutions held 5.50% and 44.40% respectively.

Nelco’s wholly owned subsidiary -- Tatanet Services (TNSL) has received an Authorization Certificate from Department of Telecommunications, Government of India for providing In Flight & Maritime Connectivity (IFMC) services. This is as per the Flight & Maritime Connectivity Rules, 2018 announced by the Central Government in December 2018, which has opened potentially large market for the satellite communication industry.

TNSL, with this authorisation and its available state of the art technology infrastructure, high quality VSAT services and knowledge of the market, is well poised to offer seamless connectivity services in aircrafts and moving vessels. This will help in future growth of consolidated Nelco.

Nelco was established in 1940 and is a part of the leading business house - the Tata group. The company is focused on system integration and product management for industrial controls, power, electronics, defence electronics, VSAT networks and automation.