Nelco declines after weak Q4 results

Nelco fell 4.05% to Rs 86.50 at 14:02 IST on BSE after consolidated net profit fell 57.21% to Rs 0.98 crore on 1.37% increase in net sales to Rs 36.99 crore in Q4 March 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 9 May 2017.

Meanwhile, the S&P BSE Sensex was up 242.13 points, or 0.81% at 30,175.38. The S&P BSE Small-cap index was up 108.89 points, 0.7% at 15,653.52.

On the BSE, 47,000 shares were traded on the counter so far as against the average daily volumes of 34,490 shares in the past one quarter. The stock had hit a high of Rs 88.80 and a low of Rs 85.70 so far during the day.

The stock had hit a 52-week high of Rs 109.70 on 8 June 2016 and a 52-week low of Rs 68.40 on 22 November 2016. The stock had outperformed the market over the past one month till 9 May 2017, advancing 8.61% compared with the Sensex's 0.76% rise. The scrip had also outperformed the market over the past one quarter advancing 8.81% as against the Sensex's 5.66% rise.

The small-cap company has equity capital of Rs 22.82 crore. Face value per share is Rs 10.

Nelco offers solutions in the areas of integrated security & surveillance, VSAT connectivity (Tatanet VSAT), managed services, satcom projects and meteorological solutions. The company offers a range of innovative and customized solutions for businesses and government institutions under one roof.

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