Latest news with #Nesco
Business Standard
01-07-2025
- Business
- Business Standard
Nesco edges higher after board OKs capex proposal worth Rs 3,500 crore
Nesco rose 2.19% to Rs 1192.25 after the company said that its board has approved a capex of up to Rs 3,500 crore for for development of Tower 2 in IT Park at Nesco Center, Goregaon. In March this year, Nesco had announced the receipt of intimation of disapproval (IOD) from Brihanmumbai Municipal Corporation (BMC) for the development of proposed Tower 2 in IT Park at Nesco Center, Goregaon (East), Mumbai. The IOD is a crucial preliminary approval from the local authorities for development/redevelopment of a property. In regulatory filing made post market hours yesterday, Nesco stated that following the receipt of the said IOD, the board at its meeting held on 30 June 2025 has reviewed and approved a capex of upto Rs 3,500 crore. These funds, being earmarked for development of Tower 2, would be utilised over a period of six years subject to receipt of timely statutory approvals. The funding for this project shall primarily be done from internal accruals. 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 reported 15.70% fall in consolidated net profit to Rs 88.61 crore in Q4 FY25 as against Rs 105.12 crore posted in Q4 FY24. Revenue from operations rose 1.60% YoY to Rs 192.01 crore in the quarter ended 31 March 2025.
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Business Standard
01-07-2025
- Business
- Business Standard
Nesco share price rises over 4%, hits all-time high on ₹3,500-cr capex plan
Nesco share price today: Nesco share price was in demand on Tuesday, July 1, 2025, with the stock rising up to 4.47 per cent to hit a fresh record high (all-time high) of ₹1,219 per share. Around 12:00 noon, Nesco share price continued to trade higher at ₹1,207.75, up 3.51 per cent. In comparison, BSE Sensex was trading flat with a positive bias at 83,640.67 levels. CATCH STOCK MARKET LIVE UPDATES TODAY Why did Nesco share price hit all-time high today? Nesco share price was buzzing in trade after the company announced that its board has approved a capex of up to ₹3,500 crore for development of Tower 2 in IT Park to be utilised over a period of six years subject to receipt of timely statutory approvals. The company further said that the funding for this project shall primarily be done from internal accruals. In an exchange filing, Nesco said, 'The Board at its meeting held today i.e. 30 June 2025 has reviewed and approved a capex of up to ₹3,500 crore for development of Tower 2 in IT Park to be utilised over a period of six years subject to receipt of timely statutory approvals.' ALSO READ | Nesco Q4 results Nesco Ltd reported a 15.7 per cent year-on-year (Y-o-Y) decline in consolidated net profit to ₹88.61 crore for the quarter ended March 31, 2025 (Q4FY25), compared to ₹105.12 crore in the same period last year (Q4FY24). Profit before tax also fell 17.78 per cent Y-o-Y to ₹111.82 crore during the quarter. Revenue from operations rose marginally by 1.60 per cent Y-o-Y to ₹192.01 crore in Q4FY25. For the full financial year ended March 31, 2025 (FY25), Nesco's consolidated net profit rose 3.42 per cent to ₹375.21 crore, while revenue from operations grew 7.93 per cent to ₹732.01 crore, compared to the previous fiscal. Nesco dividend Nesco's board has recommended a final dividend of ₹6.50 per share for FY25, subject to approval by shareholders at the upcoming 66th Annual General Meeting. The record date for determining eligibility for the dividend is set for Wednesday, 23 July 2025. If approved, the dividend will be paid on or before Wednesday, 20 August 2025. ALSO READ | About Nesco Nesco Ltd., founded in 1939, is a diversified Indian conglomerate with operations spanning engineering, real estate, exhibitions, and hospitality. Over the decades, the company has strategically expanded its footprint, evolving from its industrial roots to become a prominent player in multiple sectors. Its flagship asset, the Bombay Exhibition Centre (BEC) in Mumbai, stands as the country's largest privately held exhibition venue, hosting major trade fairs, conferences, and social events. Nesco's business verticals include Nesco Realty, which licences office spaces in its IT park to multinational firms like HSBC and KPMG; Nesco Foods, offering large-scale catering and hospitality services; and Indabrator, a leading manufacturer of surface preparation equipment.
Time of India
10-06-2025
- Business
- Time of India
Parag Parikh Flexi Cap Fund adds Bharti Airtel and Nesco to its portfolio in May
Parag Parikh Flexi Cap Fund, the largest flexi cap fund by assets under management, added two new stocks to its portfolio in May — Bharti Airtel and Nesco. The fund purchased around 1.17 crore shares of Bharti Airtel and 89,469 shares of Nesco during the month. The fund did not exit any stock in the same period. It increased its exposure in eight stocks, including Zydus Lifesciences , Power Grid Corporation of India , Mahindra & Mahindra, ITC, HDFC Bank , EID Parry India , Coal India , and Cipla. Also Read | Quant Small Cap Fund increases stake in Jio Financial Services, NCC and reduces in Aadhar Housing Finance Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Around 1.52 crore shares of Power Grid Corporation of India were added to the portfolio, taking the total holding to 20.88 crore shares in May, up from 19.36 crore in April. The fund also added 73.57 lakh shares of Coal India, followed by 39.99 lakh shares of ITC during the same period. The total number of Mahindra & Mahindra shares in the portfolio rose to 1.22 crore in May from 1.10 crore in April, with 11.91 lakh shares added. Additionally, 8.87 lakh shares of Cipla and 4.80 lakh shares of HDFC Bank were added during the month. Live Events The fund also included 3.22 lakh shares of Zydus Lifesciences and 2.54 lakh shares of EID Parry India in its portfolio in May. Exposure in 14 stocks remained unchanged, including Axis Bank, Bajaj Holdings & Investment, Central Depository Services (India), ICICI Bank , ICRA, Indian Energy Exchange , Infosys, Maharashtra Scooters , Kotak Mahindra Bank , Maruti Suzuki India , Swaraj Engines , and Multi Commodity Exchange of India. The fund held 28 stocks in its portfolio in May, up from 26 in April. Its assets under management (AUM) stood at Rs 1.03 lakh crore in May, compared to Rs 98,541.28 crore as of April 30, 2025. Also Read | Parag Parikh Flexicap Fund crosses Rs 1 lakh crore AUM: Neil Parikh Launched on May 24, 2013, the scheme is managed by Rajeev Thakkar, Raunak Onkar, Raj Mehta, Rukun Tarachandani, and Mansi Kariya. It is benchmarked against the NIFTY 500 (TRI), and the minimum investment amount for new purchases, additional purchases, and monthly SIPs is Rs 1,000. Last month, the Chairman and CEO of PPFAS Mutual Fund , Neil Parikh, announced on social media that the Parag Parikh Flexi Cap Fund had crossed Rs 1 lakh crore in assets under management (AUM). Parikh called it the first actively managed scheme in India to reach this milestone. He wrote on social media platform X, 'I don't normally talk about AUM or have any AUM-based targets in our organization, but today is special… PPFAS Flexi Cap crossed Rs 1 lakh crore AUM today. I believe it is the first actively managed scheme to do so in India.'
Business Standard
17-05-2025
- Business
- Business Standard
Nesco Q4 PAT slides 16% YoY to Rs 89 cr; recommends final dividend of Rs 6.5/ share
Nesco reported 15.70% fall in consolidated net profit to Rs 88.61 crore in Q4 FY25 as against Rs 105.12 crore posted in Q4 FY24. Revenue from operations rose 1.60% YoY to Rs 192.01 crore in the quarter ended 31 March 2025. On the segmental front, during the quarter, revenue from Realty jumped 15.98% YoY to Rs 95.03 crore; revenue from the Bombay Exhibition Center dropped 25.50% YoY to Rs 46.76 crore; revenue from Indabrator fell 20.65% YoY to Rs 12.10 crore and revenue from Foods surged 31.35% YoY to Rs 38.12 crore. Profit before tax slipped 17.78% YoY to Rs 111.82 crore in Q4 FY25. On full year basis, the company's consolidated net profit grew by 3.42% to Rs 375.21crore on 7.93% increase in revenue from operations to Rs 732.01 crore in FY25 over FY24. Meanwhile, the companys board has recommended a final dividend of Rs 6.50 per share for the financial year ended 31 March 2025, subject to shareholder approval at the upcoming 66th Annual General Meeting. The record date for determining entitlement to the dividend and for AGM purposes is fixed as Wednesday, 23 July 2025. If approved, the dividend will be paid on or before Wednesday, 20 August 2025. 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.
