4,280 shares have changed hands on BSE so far, with pending orders at 3.36 lakh shares.

The counter has jumped sharply, from the close of Rs 49.70 on 28 October 2005 to close at Rs 69.05 yesterday, ever since the company declared strong results for the quarter ended 30 September 2005.

Nelco (formerly National Electric Company) registered a 442.90% leap in net profit for the quarter ended 30 September 2005 to Rs 20.25 crore (Rs 3.73 crore). Net sales spiraled up 119.93% to Rs 74.36 crore (Rs 33.81 crore).

This results were declared by the company at a meeting held on 31 October 2005.

Nelco, a Tata group telecom equipment company, has operations focussed on manufacturing and selling consumer electronic products, business systems and office products. It has technical collaboration/technical transfer agreements with Serck Control, UK, for 16 RIT industrial micro computers; and with Teleglobe, Canada, for data communication networks.

The company launched tele-banking in nationalised banks, and is responsible for computerising more than 65 branches of 28 banks all over India. It also introduced India's first LAN inter-connectivity products.

The company has diversified its activities in the electronic field and manufactures televisions, computers and telecommunication systems, as well as industrial systems. It plans to set up a new factory to manufacture and sell telecommunication systems.

The latest paid-up equity share capital of the company is Rs 22.82 crore of which Tata Power holds a 48.64% stake as on 30 September 2005.