Support and Resistance Levels
Past performance
About Neueon Corporation Ltd Neueon Towers Limited, part of the Sujana Group, was established in 2006 and specializes in manufacturing galvanized steel towers for power transmission and telecom sectors. Located in Hyderabad, the company expanded its tower facility to a capacity of 128,125 TPA by 2007. It is ISO 9001:2001 certified and approved by PGCIL, various State Electricity Boards, and BSNL. Initially formed from a demerger with Sujana Metal Products Ltd, Neueon Towers was listed on the Bombay Stock Exchange in 2007.
Over the years, Neueon Towers has expanded its operations internationally, acquiring 100% equity in Digitech Business Systems Ltd, Hong Kong, and a 51% share in Telesuprecon Ltd, an African telecom infrastructure company. Despite these expansions, the company has faced financial distress, entering the Corporate Insolvency Resolution Process (CIRP) in June 2019. This development is crucial for traders to consider, as it impacts the company's operational and financial stability.