Announced Mon, 17 Aug · 16:34 IST
Nelco partners with Elveo for Direct-to-Device and IoT satellite connectivity
NELCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-15.7%1-day move
₹1084.50
prior close
₹1092.30
base price
After-mkt
timing
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-9.0-10.4-11.0-10.7-15.7-16.5-16.7———————
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AI summary
Tata Group's Nelco announced a strategic partnership and investment in US-based Elveo Mobile to deliver next-generation Direct-to-Device (D2D) satellite and IoT connectivity across India and South Asian markets. Target sectors include automotive, maritime, energy and government. Elveo runs a global S-band NGSO satellite network and is backed by SES.
Likely market impact
Could expand Nelco's satcom footprint into high-growth D2D and IoT segments; positive for long-term growth but execution risks remain.