NESCO Ltd Share Price – NSE  / BSE

Realty, Small Cap

The key equity benchmarks traded with moderate gains in the mid-afternoon trade. The Nifty hovered above the 23,750 level. Pharma shares advanced after declining in the previous two consecutive trading sessions.

At 11:28 IST, the barometer index, the S&P BSE Sensex, gained 313.42 points or 0.40% to 78,278.41. The Nifty 50 index added 140.55 points or 0.6% to 23,756.60.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index advanced 1.05% and the S&P BSE Small-Cap index jumped 1.50%.

The market breadth was strong. On the BSE, 2,603 shares rose and 1,149 shares fell. A total of 156 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Standard Glass Lining Technology received bids for 39,68,47,913 shares as against 2,08,29,567 shares on offer, according to stock exchange data at 11:15 IST on 7 January 2025. The issue was subscribed to 19.05 times.

The issue opened for bidding on 6 January 2025, and it will close on 8 January 2025. The price band of the IPO is fixed between Rs 133 and Rs 140 per share. An investor can bid for a minimum of 107 equity shares and in multiples thereof.

The initial public offer (IPO) of Quadrant Future Tek received bids for 2,38,85,900 shares as against 57,99,999 shares on offer, according to stock exchange data at 11:15 IST on 7 January 2025. The issue was subscribed to 4.12 times.

The issue opened for bidding on 7 January 2025, and it will close on 9 January 2025. The price band of the IPO is fixed between Rs 275 and Rs 290 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof.

The initial public offer (IPO) of Capital Infra Trust received bids for 52,64,250 shares as against 8,83,83,750 shares on offer, according to stock exchange data at 11:15 IST on 7 January 2025. The issue was subscribed to 0.06 times.

The issue opened for bidding on 7 January 2025, and it will close on 9 January 2025. The price band of the IPO is fixed between Rs 99 and Rs 100 per share. An investor can bid for a minimum of 150 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Pharma index added 1.29% to 23,370.75. The index slipped 2.03% in the past two consecutive trading sessions.

Biocon (up 7.65%), Zydus Lifesciences (up 4.73%), Ajanta Pharma (up 3.07%), Granules India (up 1.92%), Alkem Laboratories (up 1.87%), Natco Pharma (up 1.82%), Torrent Pharmaceuticals (up 1.74%), Ipca Laboratories (up 1.45%), Abbott India (up 1.27%) and Glenmark Pharmaceuticals (up 1.08%) advanced.

On the other hand, Gland Pharma (down 0.32%) edged lower.

Stocks in Spotlight:

NESCO jumped 3.99% after the company emerged as the highest bidder for a project in the south zone on the Bengaluru-Chennai Expressway Corridor (Phase II) section.

L&T rose 0.17%. The company announced that its Power Transmission & Distribution (PT&D) business has bagged large orders in India and the Middle East.

Mahindra & Mahindra rose 0.38%. The company said that its total production rose 19.93% to 53,361 units in the month of December 2024 as compared with 44,495 units produced in the same period last year.

Global Markets:

The Dow Jones index futures were down 39 points, signaling a flat-to-negative opening for U.S. stocks today, with focus remaining on key nonfarm payroll data due later in the week.

Most Asian stocks climbed on Tuesday, mirroring overnight gains in U.S. technology shares. However, Chinese markets lagged after the U.S. added two major tech companies to a blacklist.

Regional markets drew positive momentum from a robust Wall Street session, where technology stocks rebounded from a sluggish start to the year. NVIDIA Corporation, an AI leader, surged to a record high ahead of CEO Jensen Huang's keynote address at the Consumer Electronics Show in Las Vegas.

The S&P 500 advanced 0.55% on Monday, while the NASDAQ Composite soared 1.24%. The Dow Jones Industrial Average underperformed, edging down 0.06%. Despite these gains, Wall Street indices remain under pressure due to concerns over a potential slowdown in interest rate cuts in 2025, driven by persistent inflation and a robust labor market.

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The contract awarded by National Highways Logistics Management for the development, operation, and maintenance of wayside amenities across three sites on the expressway on a lease basis.

The company received the official notification regarding the allotment of the tender from the National Highways Authority of India subsidiary on Monday.

NHLML is a 100% owned Special Purpose Vehicle (SPV) of the National Highways Authority of India (NHAI), under the Ministry of Road Transport and Highways.

The project is scheduled for completion within 10 months from the appointed date, with a lease duration of 30 years. Additionally, the contract includes an option for a first right of refusal to extend the lease for another 30 years.

Nesco stated that the development of amenities at each site will cost approximately Rs 75 crore, totaling around Rs 225 crore.

The company expects to generate around Rs 350 crore in annualized revenue from all three sites combined starting from the fourth year of operations. The annual lease rent for the sites will be Rs 16.6 crore, with the option for annual increases based on the rise in the wholesale price index (WPI) and consumer price index (CPI), it added.

NESCO is mainly engaged in licensing premises in IT park buildings and providing related services, licensing premises for exhibitions and providing services to the organisers, manufacturing of machines and capital equipment, and hospitality and catering services.

The company’s consolidated net profit surged 33.8% to Rs 93.75 crore in Q2 FY25 as against Rs 70.08 crore posted in Q2 FY24. Revenue from operations jumped 24.5% to Rs 177.76 in the quarter ended 30 September 2024.

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NESCO has successfully bid for National Highways Logistics Management's for the project entailing developing, operating and maintaining of wayside amenities in South Zone on Bengaluru Chennai Expressway Corridor (Phase II) Section on lease basis comprising of 3 sites. The total cost the company has to incur for the project is estimated at Rs 75 crore for each of the three sites. The estimated revenue from 3 sites is Rs 350 crore from year 4 of operations. The annual lease rent is Rs 16.60 crore for 3 sites with fixed annual revision basis increase in WPI and CPI.

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NESCO will hold a meeting of the Board of Directors of the Company on 30 January 2025.

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