Nelco corrects on profit booking

Nelco fell 5.66% to Rs 165.05 at 15:02 IST on BSE on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was up 96.77 points, or 0.28% to 34,252.72.

On the BSE, 3.31 lakh shares were traded in the counter so far compared with average daily volumes of 79,610 shares in the past one quarter. The stock had hit a high of Rs 178.40 so far during the day, which is also 52-week high for the counter. The stock had hit a low of Rs 161.60 so far during the day. The stock hit a 52-week low of Rs 76.10 on 15 February 2017.

 

The stock had outperformed the market over the past 30 days till 14 February 2018, rising 35.10% compared with 1.77% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 61.99% as against Sensex's 3.17% rise. The scrip had also outperformed the market in past one year, rising 126.91% as against Sensex's 21.31% rise.

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

Shares of Nelco surged 62.07% in five trading sessions to settle at Rs 174.95 yesterday, 14 February 2018, from its close of Rs 107.95 on 6 February 2018.

The recent surge was triggered by the company's good Q3 results announced after market hours on 6 February 2018. On a consolidated basis, net profit of Nelco rose 49.78% to Rs 3.43 crore on 2.06% rise in net sales to Rs 37.24 crore in Q3 December 2017 over Q3 December 2016.

Nelco is a VSAT (very small aperture terminal) provider and offers network communications solutions.

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