India's Nelco to partner with Intelsat Commercial, shares at 7-month high

Nelco

26/08/2022 05:51

** Shares of satellite communication service provider Nelco
Ltd  NELC.NS  rise as much as 10% to 856.55 rupees, their
highest since Jan 21
    ** Tata group-backed NELC said it will enter into an
agreement with satellite operator Intelsat Commercial Aviation
to offer inflight connectivity services in India's airspace
 urn:newsml:reuters.com:*:nFWN3010TU
    ** Intelsat's partners and flyers post agreement will have
end-to-end broadband coverage on domestic and international
aircraft flying to or from an Indian airport, as well as
aircraft flying over the country, co added 
    ** Stock rises as much as 10% in biggest intraday pct gain
since June 29
    ** More than 100,000 shares traded, vs the 30-day moving avg
of more than 95,000 shares; NELC shares up 7.8% YTD, as of last
close

     ($1 = 79.8675 Indian rupees)

 (Reporting by Yagnoseni Das in Bengaluru)
 ((yagnoseni.das@thomsonreuters.com))