Nelco rises 5% after strong show in June quarter

Shares of Nelco hit the 5 per cent upper circuit in Tuesday’s early trade following the company's strong show in the June 2022 quarter.

The company's profit rose by 7.6 per cent year-on-year (YoY) to Rs 4.72 crore in the quarter ended June 2022 as against Rs 4.38 crore in the same period last year.

Total income from operations stood at Rs 81.68 crore as against Rs 55.10 crore in June 2021.


Total expenses the quarter ended increased to Rs 66.64 crore from Rs 42.97 crore on a YoY basis.

Following this update, the stock traded at Rs 654.85, up 4.99 per cent. It closed at Rs 623.70 on BSE on Monday.

The scrip has given a three-year return of 125.88 per cent as compared to a 46.36 per cent rise seen in the Nifty Smallcap 100.

Promoters held a 50.09 per cent stake in the company and FIIs 7.15 per cent as of 31 March 2022.

Nelco is a smallcap company with a market cap of Rs 1,494.26 crore.