Meanwhile, the S&P BSE Sensex was down 119.21 points or 0.53% at 22,240.29.

On BSE, so far 22,000 shares were traded in the counter as against average daily volume of 32,261 shares in the past one quarter.

The stock was volatile. The stock lost as much as 2.94% at the day's low of Rs 44.50 so far during the day. The stock rose as much as 2.5% at the day's high of Rs 47 so far during the day. The stock had hit a 52-week high of Rs 47.50 on Friday, 4 April 2014. The stock had hit a 52-week low of Rs 27.50 on 31 July 2013.

The stock had outperformed the market over the past one month till 4 April 2014, surging 17.87% compared with the Sensex's 5.42% rise. The scrip had also outperformed the market in past one quarter, jumping 24.59% as against Sensex's 7.23% rise.

The company has equity capital of Rs 22.82 crore. Face value per share is Rs 10.

Shares of Nelco had rallied a whopping 27% in seven trading sessions to settle at Rs 45.85 on Friday, 4 April 2014, from a recent low of Rs 36.10 on 26 March 2014.

Nelco's board of directors at its meeting held on Thursday, 3 April 2014, inter alia, has approved the restructuring of the company's Industrial Security & Surveillance Solutions business (ISSS business), by restricting operations and reducing expenditure with a view to minimize losses. This will be subject to necessary approvals/consents/permissions, Nelco said. However, the company will continue to focus on building its position in the Network Systems business, Nelco said.

Nelco reported a consolidated net loss of Rs 2.85 crore in Q1 December 2013, lower than net loss of Rs 6.65 crore in Q1 December 2012. Net sales rose 3.1% to Rs 34.89 crore in Q1 December 2013 over Q1 December 2012.

Nelco offers solutions in the areas of Integrated Security & Surveillance, VSAT connectivity (Tatanet VSAT), Managed Services, Satcom Projects and Meteorological Solutions. The company offers a range of innovative and customized solutions for businesses and government institutions under one roof.