NELCO Limited update on the Intelsat IS33E satellite failure

Intelsat's IS33E satellite (one of the Satellite that the Company uses to provide services by leasing the capacity via New Space India Limited) experienced a power outage on 19th October 2024, causing a disruption of customer traffic. The Satellite operator confirmed on 20th October 2024 that the Satellite will not be recovered. The Company has initiated backup plans for migrating the impacted customers to alternative satellite capacity. As per the current analysis, the Company believes that there are no material financial impact as a result of the above event.

Shares of NELCO Limited was last trading in BSE at Rs. 961.20 as compared to the previous close of Rs. 968.20. The total number of shares traded during the day was 16901 in over 1491 trades.

The stock hit an intraday high of Rs. 1014.00 and intraday low of 951.75. The net turnover during the day was Rs. 16603945.00.

Source : Equity Bulls

Keywords

NELCO INE045B01015 Intelsat IS33ESatellite NewSpaceIndia