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Nelco is currently trading at its Rs. 678.60, up by 32.30 points or 5.00% from its previous closing of Rs. 646.30 on the BSE.

The scrip opened at Rs. 678.60 and has touched a high and low of Rs. 678.60 and Rs. 678.60 respectively. So far 8047 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. 695.00 and Rs. 636.10 respectively. The current market cap of the company is Rs. 1548.46 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 entered into strategic cooperation agreement with Omnispace to enable and distribute 5G non-terrestrial network (NTN), direct-to-device satellite services. The collaborative effort will expand the reach of 5G using satellite communication throughout India and South Asia.

This agreement with Omnispace allows Nelco to expand its services by including 5G satellite direct-to-device connectivity solutions to its portfolio of satcom services for serving existing and new customers across South Asia, using the world’s first global 5G NTN network.

Nelco provides satcom services to enterprise customers for business-critical applications across many industry segments, including Aero IFC and Maritime communication. This strategic agreement with Omnispace will focus on enabling the use of 5G direct-to-device communications using, Omnispace’s global NGSO satellite network across various market segments. The Omnispace network will deliver IoT-based solutions and a seamless mobile connectivity experience beyond the boundaries of existing mobile networks.

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.