Review

NESCO LTD. 

Ticker : 505355
FV: Rs2
52-Week H/L: Rs636.25/420 

We had recommended Nesco Limited in volume no. 35, issue no. 38 (dated July 15, 2019), when the scrip was trading at Rs. 558.30. The company's engineering products include forging hammers and presses, blow-room lines, high production cards for the textile industry, etc. The stock was previously recommended due to its better business performance. In Q2FY20, the company's revenue increased by 20.59 per cent to Rs. 120.65 crores from Rs. 100.05 crores in Q2FY19. The PBDT for Q2FY20 stood at Rs. 93.54 crores, reporting an increase of 34.31 per cent from the PBDT of Rs. 69.64 crores in Q2FY19. The net profit reached Rs. 73.96 crores in the second quarter of FY20 against Rs. 49.25 crores in Q2FY19, recording a substantial rise of 50.17 per cent. For Q2FY20, the company has posted strong financial results. Post our recommendation, the stock price has increased by around 9.12 per cent. Thus, we suggest our investor-readers to BOOK PROFIT on Nov., 11, 2019.