168 percent up in 5 months, this stock has done this amazing
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Multibagger Stock: The shares of Nelco company, part of Tata Group, are one of the stocks giving multibagger returns. Shares of Nelco have given huge returns to investors since May. The stock has gained 168 per cent since May. The BSE Smallcap index has gained only 29 per cent during this period. The special thing is that the current rally in the stock of Nelcos has come after almost a year of consolidation (staying in a range).
The stock had closed at Rs 538.75 on BSE on September 15. This afternoon it is up by 0.72 percent at Rs 542.65. Nelco company was started in 1940. It offers VSAT connectivity, satellite communications projects and integrated security and surveillance solutions to private and government companies.
Company’s quarterly figures
- Nelco posted a profit of Rs 4.38 crore for the quarter ended June, more than double from Rs 1.84 crore in the year-ago quarter but lower than Rs 4.48 crore in the March 2021 quarter.
- The company’s income increased to Rs 55.1 crore in the June quarter from Rs 48.52 crore a year ago. Income declined in the previous quarter as against Rs 64.83 crore.
Market experts have said that the uptrend in Nelco’s stock will continue in the near future. However, he also advises not to enter it at the current level due to the rise in the stock since May.
Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)
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