NELCO shares jump 13% after March quarter 1.1 cr profit
Business
NELCO, part of the Tata Group, saw its shares soar 13% on Tuesday, April 21 after reporting a profit of ₹1.1 crore for the March quarter, a big turnaround from last year's ₹4.1 crore loss.
Revenue also climbed 17.3%, hitting ₹79.2 crore, making this NELCO's best single-day stock gain since late 2024.
NELCO board approves final ₹1 dividend
The board approved a final dividend of ₹1 per share, which still needs approval at the next AGM.
Tata Power owns one-half the company, while retail investors hold about one-third, pretty unique since mutual funds don't have any stake here.
Even with prices up 41% over the past month, NELCO shares are still down 34% from their 52-week high of ₹1,161.