Introduction:
Smallcap company has been declared the highest bidder for developing, operating, and maintaining wayside amenities along the Hyderabad-Vishakhapatnam Expressway. The project involves four sites with an estimated cost of ₹50 crore each.
Share price movement of Nesco:
On December 13, 2024, NESCO Ltd. opened at ₹1,040.05, up 2.42% from its previous close of ₹1,015.45. The stock reached a high of ₹1,053.80 (3.78%) and a low of ₹1,010.00. By 12:13 PM, it traded at ₹1,026.10, a 1.05% increase, with a market cap of ₹7,229.90 crore.
Nesco wins wayside amenities contract:
Nesco Limited has been declared the highest bidder for developing, operating, and maintaining wayside amenities along the Hyderabad-Vishakhapatnam Expressway in the Khammam-Devarapalle section. This contract was awarded by National Highways Logistics Management Limited (NHLML) on December 11, 2024.
The company will develop four sites for wayside amenities, with an estimated cost of ₹50 crore per site. The lease term spans 30 years, with an option to extend for another 30 years. The project is expected to be completed within 10 months from the appointed date.
Nesco estimates an annualized revenue of ₹300 crore starting from year four of operations. Additionally, the company will pay an annual lease rent of ₹4.29 crore for all four sites, with adjustments based on WPI and CPI inflation.
Stock performance of Nesco for Period of 1 week, 6 months and 1 year:
NESCO Ltd. experienced a 2.08% decline in the past week. However, the company showed positive growth with a 4.61% return over the last 6 months and a solid 20.7% return over the past year, indicating steady long-term performance.
Also Read: NBFC stock jumps after company sells its housing finance subsidiary for ₹3,929 Cr to Warburg Pincus
Shareholding pattern of Nesco:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 68.50% | 68.50% | 68.50% |
| FII | 4.00% | 3.90% | 3.50% |
| DII | 4.10% | 3.90% | 4.00% |
| Public | 23.50% | 23.70% | 24.00% |
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About Nesco:
Nesco Ltd. (NSE: NESCO) is a diversified Indian company with interests in engineering, realty, and services. It operates IT parks, exhibition centers, manufactures industrial equipment, and provides hospitality services, with facilities in Gujarat, Maharashtra, and Mumbai.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
