As the demand for IFMC services is high, Nelco has a big opportunity to grow further in this sector.
Nelco Limited’s wholly-owned subsidiary Tatanet Services Ltd. (TNSL) has obtained the authorisation license from Department of Telecommunications (DoT), Government of India for providing in-flight and maritime connectivity (IFMC) services.
The IFMC license will make it possible to have uninterrupted access to voice, data and video services while travelling on aircraft, sailing vessels, cruise liners etc. in India, using the satellite technology.
It will also bring in new possibilities of real-time communication of onboard systems and bring operational efficiencies to improve business productivity for the airlines and shipping companies, which were not so evolved until now.
Nelco has an advanced ground infrastructure and satellite coverage over India and currently serves the business-critical needs of various users like ATMs, petrol pumps, bank branches, off-shore rigs for oil and gas exploration etc.
It is in talks with the Department of Space (DoS) and ISRO to further augment its satellite infrastructure as required, to offer high-quality IFMC services. As the demand for IFMC services is high, Nelco has a big opportunity to grow further in this sector.
On Wednesday, the stock of Nelco opened at Rs 265 per share. It made an intraday high of Rs. 272.90, an uptick of 4.3 per cent from its previous close of Rs. 261.60.