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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.
The Hindu
26-06-2025
- Business
- The Hindu
CXO Ghosting is rising: 18% of companies say candidates backed out after accepting the offer
The offer was signed. Then the silence began. You chase a CXO to join your company for months. Multiple rounds, negotiations, culture fits. You finally get the 'yes'. Offer accepted. Team aligned. Board informed and plans made. And then? Silence. They don't respond to calls or emails. A few awkward follow-ups later, you realise: you've been ghosted. It's happening more than we admit. According to Korn Ferry's 2024 Trends Report, 18% of companies experienced CXO-level candidates backing out post-acceptance. Most without formal withdrawal. This isn't just a candidate problem. It's also a leadership hiring blind spot. At the top, the offer is never final. It's the start of a trust-building window. Junior hires accept and join. Senior hires accept and observe. Selling a mission To be hired, CXOs observe whether they are being treated like a future leader or a new employee. They wonder if they feel emotionally bought-in and whether the company is aligned with their mission and vision. What we don't realise is that many CXOs ghost not because they are flaky, but because we never truly hired them. We sold them a number and not a mission. Let me share an example. A company I worked with was onboarding a Head of Product on a 90-day notice. It was a solid offer, and the candidate was a great fit. They sent a welcome email. Then went quiet for six weeks. There were no check-ins and no strategic alignment. The candidate was not involved in roadmap conversations. At week eight, the candidate stopped responding. A week later, the candidate joined a competitor, who had been subtly engaging them the whole time. The company didn't lose a candidate. They lost two quarters of roadmap progress. Here's what we overlook: When a CXO backs out, team morale dips; reporting layers lose direction; founders start doubting their process. As one CHRO told me bluntly, 'Every CXO no-show makes the people under them nervous. They start thinking — what did they see that we didn't?' It's not just a delay. It's a domino. I asked two other HR leaders what they suggest needs to be done in such instances. Here is what they had to say: Dr. Ashish Pinto, CHRO, Nesco Ltd, says, 'Involve the offered candidate early in the process. Sharing the company's next three to four years' plans helps greatly in engaging at the CXO levels. I also take them around our office premises, which is large enough for them to keep them involved. It is important to marry their story with the company's mission. It is about aligning deeply the candidate's career objective with what the company has to offer.' Charu Vijayvargiya, Head of Human Resources, BIG FM, said, 'At the CXO level, joining isn't just a career move-it's personal. Leaders at this stage are driven to leave a legacy not just within the organisation but across the industry. That's why it's essential to keep the conversation going after the offer.' Ms. Vijayvargiya notes that involving these candidates early in real business contexts builds a sense of belonging and aligns their ambitions with the organisation's vision and growth trajectory. 'When they feel connected to where the company is headed and how they can shape that journey, it turns commitment into conviction', she said. My insight? Day one starts the day the offer is made, not post-joining, nor post-induction. From the moment they say yes, you're building trust or losing it. How do you reduce the risk? Here's what I recommend — and practice: • Micro-engagement starts early: Include them in strategy calls, weekly informal connects, even Slack discussions. • Define 90-day clarity: Not a vague goal sheet. Help them see where they'll lead, who they'll empower, and what outcomes they'll own. • Involve them in one key decision early. It builds psychological ownership and locks emotional buy-in. Conclusion Leadership ghosting isn't just about the candidate. It's about how we treat post-offer engagement. A 'yes' isn't the end of the hiring process. It's the start of trust-building because great leaders don't join for money — they join for missions. And if we don't let them feel that mission early, someone else will. (Sarabjeet Sachar is a leadership coach and Founder & CEO, Aspiration Career Development)
