NELCO Share Price

NELCO Limited (Formerly known as National Radio Electronics Company) was promoted in 1940 by the Investment Corporation of India, inter alia, to manufacture broadcasting equipment. The Company had two wholly owned subsidiaries viz. Tatanet Services Ltd. (TNSL) Nelco Network Products Ltd. (NNPL). The Company is a subsidiary of The Tata Power Company Limited. The Company was engaged in providing end to end networking solutions (Satcom Projects) services, sale/rental of VSATs and maintenance of private hubs and hybrid networks for its customers (Equipment business and related services). TNSL was engaged in the Satellite Communication services (VSAT Bandwidth services) and NNPL did not commence its operations.NELCO has technical collaboration/technical transfer agreements with Serck Control, UK, for 16 RIT industrial micro computers and with Teleglobe, Canada, for data communication networks. It introduced telebanking in the nationalised banks and computerised more than 65 branches of 28 banks all over India. It also introduced Indias first LAN interconnectivity products. The company has diversified its activities in the electronic field and manufactures televisions, computer and telecommunication systems, as well as industrial systems and plans to set up a new factory to manufacture and sell telecommunication systems. NELCO transferred its business systems division to a new subsidiary Nelito Systems, formed in association with Itochu Corporation, Japan. NELCO has been selected by Chittararanjan Locomotive Works for power control and auxillary equipment of 6000 HP AC locomotives. This project was executed successfully in 2001 and were approved by RDSO.NELCO and General Electric (GE) of USA have signed a cooperation agreement which will enable GE and NELCO to play complementary role in providing stateoftheart drive and automation systems for the metal industries in India. The construction of Technopolis Knowledge Park (TKP) at Andheri was completed by the company, with the assistance of Tata Housing Development Company.The company has executed orders for defence requirement in 200102 and the company has orders worth Rs.12.80 crores for supply of Global Positioning Receivers for Army and Airforce,for execution in 200203.The Tatanet Division of NELCO introduced exclusive third generation broadband VSAT technology from Viasat, USA in 2004. Tatanet Division launched the Tata Indicom VSAT services brand in 2006. The Company became the subsidiary of The Tata Power Company Limited during 200506. Further, it launched Readynet through its channels to cater to both Mid market and SME segment in 2008.In 200910, the Company transferred the Traction Electronics, Industrial Drives and the Supervisory Control and Data Acquisition (SCADA) businesses to Crompton Greaves Limited (CGL) through slump sale basis effective on 28 July, 2010. In 2015, it set up a new hub in Dehradun, which became operative from December, 2014. During the year 201617, the company had set up a new ExtendedC VSAT Hub in Mahape which got operational from May 2016. In 2020, it launched its SatCom services for both Maritime and Aero IFC under the Inflight and Maritime Communication (IFMC) license frm Government of India. During the year 2022, the Company received approval from Department of Telecommunications (DoT) for transfer of VSAT and ISP license held by subsidiary Company Tatanet Service Limited (TNSL) to Nelco Limited. Upon approval from DoT, the Scheme of Restructuring became effective from April 1, 2017. Pursuant to approval, the Proposed Scheme accounted for as follows. Discontinued operations were transferred to Nelco Network Products Limited (NNPL). Resulting to this, it acquired from the Company two businesses on a going concern basis by way of slump sale comprising of Industrial Security and Surveillance System (ISSS) and sale and maintenance of VSAT and related equipment and TNSL got merged with the Company.