NELCO , a Tata Group company, has recently responded to media speculation regarding its potential entry into the satellite broadband sector. The company has issued a clarification to address rumors and explain recent stock price movements.

Clarification on Media Speculation

In an official statement to the BSE (Bombay Stock Exchange), NELCO emphasized that it has not withheld any material information from its stakeholders. The company stated that it is unable to comment on media speculation and rumors, deeming it inappropriate to do so.

Routine Evaluation of Strategic Opportunities

NELCO clarified that, as part of its ongoing corporate strategy, the company routinely evaluates strategic opportunities to strengthen and expand its business operations. However, the company assured that any material developments or finalized decisions would be promptly disclosed to the Stock Exchange in accordance with applicable regulations.

Stock Price Movement

Addressing the recent increase in its stock price, NELCO attributed the movement to general market conditions. The company stated:

"The movement in the price/volume of the securities of the Company is purely due to market conditions and absolutely market driven and the Management of the Company is in no way connected with any such movement in price/volume."

Compliance with Regulations

NELCO reiterated its commitment to transparency and regulatory compliance. The company assured stakeholders that it has made and will continue to make disclosures in compliance with its obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and its agreements with the stock exchanges.

Conclusion

While media reports have speculated about NELCO's potential entry into the satellite broadband business, the company has maintained a cautious stance. NELCO's response emphasizes its commitment to regulatory compliance and transparent communication with stakeholders, while neither confirming nor denying the speculated business move.

Investors and market watchers will likely continue to monitor NELCO closely for any official announcements regarding its future business strategies and potential expansion into new sectors.

Nelco Ltd. , a Tata Group satellite communication service provider, has signed a groundbreaking agreement with Eutelsat to deliver OneWeb low Earth orbit (LEO) satellite connectivity services across India. This strategic partnership aims to revolutionize satellite communication in the region, offering secure and low-latency connectivity for customers on land, sea, and air.

Expanding Connectivity Reach

The collaboration between Nelco and OneWeb India Communications, Eutelsat's local operating entity, will extend service coverage across India's borders, territorial waters, and remote regions. This expansion is set to support a wide range of government and enterprise applications, strengthening India's digital infrastructure and national security while ensuring connectivity in underserved areas.

Service Offerings and Applications

Nelco plans to offer these advanced LEO connectivity services as soon as OneWeb's operations become commercially available in India. The partnership is poised to address critical needs across various sectors:

• Land-based Services: Providing high-speed, low-latency connectivity for businesses and communities in remote and rural areas.
• Maritime Connectivity: Ensuring reliable communication for vessels in Indian territorial waters.
• Aviation Solutions: Offering seamless connectivity for aircraft, enhancing in-flight communication and operational efficiency.
• Government and Enterprise Applications: Supporting secure and advanced communication needs for critical sectors.

Leadership Perspectives

P J Nath, Managing Director and Chief Executive Officer of Nelco, expressed enthusiasm about the partnership, stating, "This partnership marks a significant step in enabling reliable, secure, and high-speed communication solutions based on LEO services for critical sectors across land, sea, and air. It reflects our strategy to provide comprehensive multi-orbit satellite connectivity services for advancing India's digital ecosystem and supporting the country's strategic communication needs."

Neha Idnani, Regional Vice President for APAC and Director of OneWeb India, added, "We are proud to partner with Nelco, part of the respected TATA Group, to deliver advanced LEO connectivity services in India. This agreement strengthens our strategic footprint in one of the world's most dynamic and fast-growing connectivity markets and underscores our commitment to supporting India's digital and security ambitions."

About Nelco and Eutelsat

Nelco Ltd., a part of the $180 billion Tata Group, is a leading Satellite Communication Service Provider in India. The company aims to create a ubiquitously connected world, empowering businesses and communities while enabling nation-building endeavors.

Eutelsat Group, formed through the combination of Eutelsat Communications and OneWeb in 2023, is a global leader in satellite communications. With a fleet of 34 Geostationary (GEO) satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites, Eutelsat Group addresses the needs of customers in key verticals including Video, Mobile Connectivity, Fixed Connectivity, and Government Services.

This partnership between Nelco and Eutelsat represents a significant leap forward in satellite communication technology for India, promising to bridge digital divides and enhance connectivity across the nation.