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Nesco Ltd share price today (on 22 September 2023).
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BSE: 505355 | NSE: NESCO | ISIN: INE317F01027 Market Cap: [Rs.Cr.] 965 | Face Value: [Rs.] 10 Industry: Miscellaneous
Nesco Ltd is a diversified Indian-based company with business interests in the engineering, realty, and services sectors. The company's manufacturing group includes Nesco Engineering and services groups include Bombay Convention & Exhibition Center and NESCO Realty. The company manufactures engineering products, including forging hammers and presses, blowroom lines and high production cards for textile industry, and sucker rod pumps for onshore oil recovery. Their manufacturing facilities are located at Karamsad and Vishnoli in Gujarat and Mumbai in Maharashtra. Nesco Engineering provides equipment to Indian Railways, Ordnance Factories, Forging Plants and others. The company's Bombay Exhibition Center is situated along the Western Express Highway in Goregaon, which is a permanent venue for conventions, exhibitions and trade fairs in India. Nesco Realty operates in realty business, including developing and providing built up spaces for multinational companies and corporate at their various properties. Nesco Ltd was incorporated in the year 1946 as New Standard Engineering Co Ltd.
Initially, the company was operated from Byculla and then they set up two more plants at Parel and Santacruz. In the year 1959, they consolidated their three operations and moved to Western Express Highway at Goregaon in Mumbai. In the year 1986, the company diversified into realty business, developing and providing build up space for multi national companies and leading Indian corporate. In the year 1992, they set up an exhibition centre named as Bombay Exhibition Centre at its complex on the Western Express Highway at Goregaon, Mumbai. In order to reflect the company's transformation from engineering company to a diversified company, the name of the company was changed from New Standard Engineering Co Ltd to Nesco Ltd in January 2001. During the year 2004-05, the Indabrator Ltd along with their two plants in Gujarat and an 85,000 sq ft premises in Mumbai merged with the company with effect from July 1, 2004.
Indabrator Ltd was a market leader in surface preparation equipment. The company completed their Convention Centre in Convention Centre which is a fully air-contidioned hall, measuring about 25,000 sq ft, which accommodate about 1,500 persons. During the year 2005-06, the company upgraded their Bombay Exhibition Centre for Rs 12 crore. Also, they divested 3,750 shares of NSE Housing and Investment Private Ltd and thus NSE Housing and Investment Private Ltd ceased to be a subsidiary company. During the year 2007-08, the company completed the construction of third unit at Vishnoli in Gujarat, which commenced their operations. Also, the company modernized and upgraded the four convention and exhibition center halls covering an area of over 450,000 sq ft. The company decided to expand the production capacity by installing new machinery and machine tools. Also, the company is also in the process of construction of IT Building No 3 admeasuring about 800,000 sq ft, in which the construction is expected to start shortly.
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