Shares of Nelco were locked in the 5 per cent upper circuit band at Rs 678.60 on the BSE after the Tata Group company and Omnispace announced a strategic cooperation agreement to enable and distribute 5G non-terrestrial network (NTN), direct-to-device satellite services.

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Nelco is a leading Satellite Communication Service Provider in India, providing highly reliable data connectivity solutions across the country, mainly for the Enterprise sector and Aero IFC and Maritime. The Company has the necessary licenses for offering Satcom services in the country including the In-flight & Maritime Communication (IFMC) services.