Nelco trades higher on making investment in Piscis Networks
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Nelco is currently trading at Rs. 714.10, up by 2.30 points or 0.32% from its previous closing of Rs. 711.80 on the BSE.
The scrip opened at Rs. 711.95 and has touched a high and low of Rs. 726.65 and Rs. 702.00 respectively. So far 55537 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1089.95 on 02-Sep-2022 and a 52 week low of Rs. 487.00 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 755.00 and Rs. 617.60 respectively. The current market cap of the company is Rs. 1630.26 crore.
The promoters holding in the company stood at 50.09%, while Institutions and Non-Institutions held 4.71% and 45.20% respectively.
Nelco has made investment in Piscis Networks (Piscis) an OEM and one of the pioneers in providing SD-WAN solutions (Software Defined Wide Area Network) that improves network performance and reliability. This investment is an important step for Nelco to expand its service portfolio and elevate its position as an integrated network solution provider. This also reinforces Nelco’s commitment to deliver comprehensive and innovative satellite communication solutions to its customers. Nelco is focused on creating unparalleled high-quality solutions and services to meet the evolving demands of its customers.
Nelco continues to create newer products and services, further driving innovation in the satellite communication industry and empowering customers across various sectors. With this investment, the company will enable its customers to further improve their network performance, reliability, and security.
Nelco, a part of Tata Group, is a leading Satellite Communication Service Provider in India, providing highly reliable data connectivity solutions across the country for the Enterprise, Aero IFC and Maritime sectors.
