NELCO gains 3% on securing In-Flight & Maritime Connectivity license

The license has been granted by DoT under the flight and maritime connectivity rules 2018.

Mar 07, 2019 04:03 IST India Infoline News Service

Stock up
Shares of NELCO gained 3% in Thursday’s morning trade after the company’s wholly-owned subsidiary Tatanet Services Ltd (TNSL) received an In-Flight and Maritime Connectivity license from the Department of Telecommunications (DoT).

The license has been granted by DoT under the flight and maritime connectivity rules 2018, announced by the central government, the company said in a press note after markets hours to the exchanges on Wednesday. 

"We are ready to serve the broadband internet requirements for Aero & Maritime segments and are in active discussions with some potential customers to offer these services soon,” said P J Nath, MD & CEO of NELCO.

NELCO Ltd's share price is currently at Rs271, up by Rs7.25 or 2.75%, from its previous close of Rs263.75 on the BSE.
The scrip opened at Rs272.90 and has touched a high and low of Rs274 and Rs268.25, respectively. So far, 42,624 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs601.88cr.

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