India's Nelco slips after $20 million investment in Lunar Holdco
18/08/2026 07:32
BUZZ-India's Nelco slips after $20 million investment in Lunar Holdco ** Shares of India's Nelco NELC.NS fall as much as 11.6% to 956 rupees; stock last down 11.3%
** Stock on track for its biggest intraday percentage loss since March, 2020
** Satellite communication service provider announces strategic partnership and $20 million investment in U.S.-based Lunar Holdco, which operates as Elveo Mobile, to bring next-generation Direct-to-Device and IoT connectivity to India and South Asia
** More than 1.3 million shares change hands, about 3.1x the 30-day average volume - LSEG compiled data
** Stock up 31.5% YTD
(Reporting by Payel Das in Bengaluru)
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