This Tata group defies market mood to rally 10%; here’s why

New Delhi: Shares of Nelco extended their gains on Monday despite a sharp selloff on Dalal Street. The stock hit its 10 per cent upper circuit for the second day in a row.

Shares of Nelco zoomed 10 per cent, their limit for the buyer’s circuit to Rs 942.30 on Monday. The stock added 10 per cent to settle at Rs 865.65 on Friday.

The satellite company and broadband services firm had announced a partnership with Intelsat to provide connectivity services during flights in the Indian skies.