Adani Group Pursues SEBI Settlement Over Shareholding Violations to Prevent Regulatory Action
Shares of this Tata Group company zoomed 10% on August 26; Do you own it?
Last Updated: 12th December 2022 - 10:05 am
Nelco stock surged by 10%, hitting the upper circuit due to an agreement with Intelsat Airline.
Nelco's share price has increased by 77.85 points, or 10.00%, from its last closing price on the BSE of Rs 778.80 to its upper circuit limit of Rs 856.65. Today, the stock achieved a high of Rs 856.65 and a low of Rs 840.85 after opening at Rs. 848.00. The company's current market capitalisation is Rs 1954.74 crore. Also, 50.09% of the company's shares are held by promoters, while institutions and non-institutions have 7.45% and 42.47%, respectively.
The agreement between Nelco and the largest integrated satellite and terrestrial network in the world drove up the company's stock price. Intelsat Airline partners and customers will benefit from end-to-end internet coverage on local and foreign planes going to or from Indian airports as well as aircraft flying over the nation, thanks to this deal.
Nelco, a part of Tata Group is a prominent satellite communication service provider in India, offering highly dependable data connection solutions for the maritime, aeronautical, and enterprise markets nationwide. The company is one of the leading players in the niche Rs 1400 crore VSAT industry with about 26% market share (in terms of cumulative VSAT installations). In the fields of finance, oil and gas exploration, renewable energy, telemedicine, mining and construction, and rural education, Nelco offers B2B VSAT services.
The IFMC business's contribution to revenue increased from 15% in FY2021 to roughly 20% in FY2022. In the medium term, it is anticipated that the sector would grow significantly in the area of air and sea mobility. Nelco is in a good position to gain from the rise in mobility because of its collaborations with technology providers like Panasonic Avionics Corporation.
Nelco has two main sources of income: (a) sales of VSAT gear, which are one-time purchases of hardware, and (b) bandwidth and service consumption, which is mostly recurring income.
- Flat ₹20 Brokerage
- Next-gen Trading
- Advance Charting
- Actionable Ideas
Trending on 5paisa
03
5paisa Research Team
Indian Market Related Articles
Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. For detailed disclaimer please Click here.