Tata Group's Nelco to Enter Satellite Broadband Business, Shares Jump

Nelco Ltd, a Tata Group company, has clarified a recent news item that appeared in a media outlet, stating that they are unable to comment on media speculation and rumors. However, they do confirm that the company routinely evaluates strategic opportunities to strengthen and expand its business operations. Any material developments or finalized decisions will be disclosed to the Stock Exchange in accordance with applicable regulations. The company also reiterates that they have made and will continue to make disclosures in compliance with their obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The movement in the price/volume of the securities of the Company is purely due to market conditions and absolutely market driven.