Nelco Ltd.

Nelco is currently trading at its upper circuit limit of Rs. 750.65, up by 35.70 points or 4.99% from its previous closing of Rs. 714.95 on the BSE.

The scrip opened at Rs. 729.95 and has touched a high and low of Rs. 750.65 and Rs. 710.00 respectively. So far 7982 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 968.55 on 19-Oct-2021 and a 52 week low of Rs. 178.85 on 19-Apr-2021.

Last one week high and low of the scrip stood at Rs. 750.65 and Rs. 695.55 respectively. The current market cap of the company is Rs. 1712.86 crore.

The promoters holding in the company stood at 50.09%, while Institutions and Non-Institutions held 7.33% and 42.59% respectively.

Nelco has bagged contract for turnkey project from Oil and Natural Gas Corporation (ONGC) worth more than Rs 40 crore. The scope of the project entails supply, commission, and maintenance of ONGC’s captive very small aperture terminal (VSAT) based network. This network will be used to enhance the communication infrastructure of ONGC’s Western India offshore sites.

Nelco will revamp the existing Ku band captive network of ONGC as per their requirement, which will enable voice, and data communication between ONGC’s offshore installations, and onshore locations. The scope of the project includes upgradation of existing Ku band satellite communication infrastructure, as well as upgrading the RF and antenna systems and other necessary electronic systems at all locations. This system will enable connectivity for offshore platforms, drilling rigs, specialized vessels and onshore locations.

Nelco is a leading Satellite Communication (SatCom or VSAT) Service Provider in India, providing highly reliable data connectivity solutions across the country mainly for the Enterprise sector.