The Upper Circuit On Two Tata Group Companies
The upper circuit on two Tata companies, know when this situation arises.
The stock market was on a boom on Thursday as the results of the assembly elections were positive. This excited a lot of investors.
Shares of two Tata group companies – Nelco and Tejas Network – closed 5 percent in the upper circuit on Wednesday after a correction of 37 percent from a 52-week high on the BSE.
Both these counters on BSE and NSE saw only buyers.
Explain that the highest price a stock reaches on a trading day is called the upper circuit and the lowest price of a stock on a trading day is called the lower circuit.
On the BSE, Nelco Upper Circuit closed at Rs 637.10, while Tejas Networks closed at Rs 384.90.
Nelco touched a 52-week high of Rs 968.55 on October 19, 2021, and the other stock touched a high of Rs 570.20 on October 5, 2021.
Nelco is a leading Satellite Communication (SATCOM or VSAT) service provider in India, providing highly reliable data connectivity solutions across the country, primarily for the enterprise sector.
The company aims to bring the benefits of the digital revolution to customers using satellite communication.
Nelco currently holds the license for Commercial VSAT Communication Service, Category A ISP service license on a commercial basis issued by the Department of Telecommunications (DoT).
In-Flight and Maritime Communication (IFMC) authorization from DoT and National Long Distance ( NLD) services.
While Tejas is a leader in the optical networking market of India.
The company’s products have been used by leading telecom operators in India.
Such as Bharti Airtel, Reliance Jio, Vodafone-Idea, Tata Communications, Tata Tele Services, Bharat Sanchar Nigam (BSNL), and many others.
Public sector companies like Power Grid Corporation of India, RailTel Corporation of India, Indian Oil Corporation, Oil India, Delhi Metro, and Gas Authority of India are also customers.
