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NELCO Gains 9%; BSE CAPITAL GOODS Index Up 0.6%
Tue, 27 Aug 14:26

NELCO Gains 9%; BSE CAPITAL GOODS Index Up 0.6%Image source: Sakorn BernardaSv/www.istockphoto.com

NELCO share price has zoomed 9% and is presently trading at Rs 1,229.9.

Meanwhile, the BSE CAPITAL GOODS index is at 73,921.2 (up 0.6%).

Among the top gainers in the BSE CAPITAL GOODS index today are ABB (up 2.4%) and L&T (up 2.1%).

GRINDWELL NORTON (down 2.1%) and AIA Engineering (down 1.4%) are among the top losers today.

Over the last one year, NELCO has moved up from Rs 850.1 to Rs 1,229.9, registering a gain of Rs 379.8 (up 44.7%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 44,700.9 to 73,921.2, registering a gain of 65.4% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 172.1%), HINDUSTAN AERO. (up 135.3%) and Bharat Electronics (up 127.4%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 81,809.9 (up 0.1%).

The top gainers among the BSE Sensex today are Maruti Suzuki (up 2.2%) and L&T (up 2.1%). The most traded stocks in the BSE Sensex are ICICI Bank and Tata Steel.

In the meantime, NSE Nifty is at 25,043.3 (up 0.1%). Shriram Transport and SBI LIFE INSURANCE are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,433.3 to 81,809.9, registering a gain of 16,376.6 points (up 25.0%).

NELCO Financial Update...

NELCO net profit fell 21.3% YoY to Rs 45 million for the quarter ended June 2024, compared to a profit of Rs 57 million a year ago. Net sales declined 6.0% to Rs 741 million during the period as against Rs 788 million in April-June 2023.

For the year ended March 2024, NELCO reported 19.2% increase in net profit to Rs 237 million compared to net profit of Rs 199 million during FY23. Revenue of the company grew 2.2% to Rs 3,203 million during FY24.

The current Price to earnings ratio of NELCO, based on rolling 12 month earnings, stands at 127.7.

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