India's Nelco rises 6% after agreeing to buy Piscis Networks

Nelco

06/06/2023 05:18

** Shares of Nelco Ltd  NELC.NS  rise as much as 6.6% to 675
rupees, sees biggest intraday pct gain since April 25
    ** Stock touches its highest level since April 27, on track
for a second consecutive session of gains, if trends hold 
    ** Co on Monday said it agreed to buy 9.09% of Piscis
Networks Private Limited with an initial investment of nearly 10
mln rupees 
    ** Co to make further investment to increase its
shareholding in Piscis Networks up to at least 30%
    ** As of last close, stock down ~11% YTD

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))