Nesco Ltd. share price target

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NESCO Limited is a tool manufacturing company. The Company operates in two divisions: Bombay exhibition center/realty division and engineering division. The Company's engineering products include forging hammers and presses, blowroom lines and high production cards for the textile industry, and and sucker rod pumps for onshore oil recovery. The Company also provides equipment to the Indian Railways,...

New Standard Engineering Company Ltd, now renamed as Nesco Limited, owns a 65acre land parcel near Mumbai's airport is exhibition centerbusiness& rentals of IT parks. Bombay Exhibition Centre (BEC) India's largest in the private sector & was started in 1991. Nesco also has a capital goods division based in Gujarat, where it owns 15 acres of land and has 3 units. In 1986, the company diversified into the realty business by developing and providing customized builtup space for multinational companies and leading corporate at Goregaon. Its business segments include Nesco IT Park, Bombay Exhibition Centre, Indabrator, and Investment and other income. Nesco has also started...

Nesco reported a steady set of numbers in Q1FY20. On the operational front, Nesco IT Park Tower 4 has been completed while license agreements with reputed clients viz. WeWorks, KPMG etc, have been finalised. This tower could generate gross revenues to the tune of | 200 crore once fully leased. Going ahead, Nesco is considering taking up two new projects - New Hall in BEC (~2.5 lsf) and New IT Park tower 2 (~24 lsf) at total capex of ~| 1,700...

As per media sources, Brihanmumbai Municipal Corporation (BMC) has allowed Nesco to hold events and exhibitions at Bombay Exhibition Centre (BEC). Few days ago, a letter from Municipal Corporation of Greater Mumbai (MCGM) was circulated over media that said MCGM had asked Nesco to discontinue events, exhibitions at BEC. Hence, as per recent media reports, BMC's ward officer had directed Nesco to stop hosting events at BEC until completion of construction of Metro. Nesco...

We met the management of NESCO Ltd (NESCO). Key takeaways are: -i) NESCO is focused on a steady & planned expansion of its key businesses to capture timely opportunities in real estate industry, ii) made an outlay of capex of | 1500 crore (already spent | 270 crore) to support its expansion plans to be funded largely via internal accruals, iii) plans to double IT park capacity by setting up IT Park 4 with leasable area of 1.2 msf (mn sq ft) and iv) set up convention and auditorium centre, with total development of 0.8 msf. We like NESCO given the prudent management...