Nesco disclosed its exemplary unaudited result for the quarter ended June ’16 and this morning the stock saw a surge in volume by more than 5.06 times. The stock opened with an increase of 59points at Rs. 1639.10 as seen on NSE. The stock met its day’s high and low at Rs. 1704.85 and Rs. 1625.15. Nesco disclosed a rise in income from operations to Rs 5436.58 lakhs for the June ’16 quarter end against the corresponding quarter of the last financial year which was seen at Rs.4779.50 lakhs. The total expenditure for this quarter decreased by almost 500 lakhs to Rs. 1310.66 lakhs from Rs. 1883.16 for the June ’15 quarter. The profit from operations almost doubled on Y-o-Y basis. As per reports, for June ’16 quarter end the amount was seen at Rs. 4125.92 lakhs as compared to Rs. 2896.34 lakhs. Again, the other income saw a huge rise from Rs. 529.96 lakhs (June’15 quarter) to Rs. 1122.17 lakhs (June ’16 quarter). The earnings per share went up to 24.89 lakhs in this June ’16 quarter from 15.69 lakhs as seen in the corresponding quarter of last year.
Hence, Nesco share price is currently trading at an increase of 3.56% at Rs.1680.00. Approximately 20K shares were traded on 11th of August (11:30 A.M) against its average volume for last 20 days which is seen at 3188.
Nesco Share Price Forecast
Nesco is one amongst the 500 stock analyzed by Dynamic Levels for this quarter out of the 1700 shares listed on NSE. Nesco share price met its 52 week high at Rs. 1790.00 (01-Jan-16). However the 52 week low is seen at Rs. 1220.00 (25-Aug-15). The company has a market cap amounting to Rs. 2284.03 (Cr).For further details on the support and resistance levels take a look at the Nesco share price history.
No comments:
Post a Comment