Nelco gains 2% after selling stake in Nelito Systems for Rs 6.77 crore

Shares of Nelco Ltd gained almost 2 percent intraday on March 28 after the satellite communication company sold its entire investment in Nelito Systems at a consideration of Rs 6.77 crore to Japan-based IT company DTS Corporation.

The company in its BSE release said that the Board of Directors granted approval for the sale of 2,53,665 equity shares of Nelito Systems, representing 12.3 percent stake, to DTS Corporation for Rs 6.77 crore.

The share touched its 52-week high of Rs 372.05 and 52-week low of Rs 154 on 14 August 2018 and 28 March 2018, respectively.
At 0956 hours, Nelco Ltd was quoting Rs 285, up 1.91 percent on the BSE.

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