Tata Elxsi Gains 5%, Records High Level on the BSE

Tata Elxsi’s shares have moved higher by 5% and recorded a high level of Rs 7,971.90 on the BSE in Friday’s intra-day trade in an otherwise weak market. The stock of Tata Group Company surpassed its previous high level of Rs 7,949.

Tata Elxsi is among the leading providers of design and technology services across industries in the world, including automotive, media, communications, healthcare and transportation.

After the company's strong and consistent growth over the past three months, the stock has outperformed the market by 45%, earnings have increased by 33.2% year-on-year and profit after tax (PAT) has increased by 43.5% in the third-quarter ending on December 31. By comparison, the S&P BSE Sensex increased by 0.26% over the same period.

While announcing Q3 results, Tata Elxsi’s management said that the company has witnessed significant growth in the automotive market, with large and strategic deals with both OEMs and suppliers across electric, autonomous, connected and digital, underscoring the company’s technology and engineering leadership.

Meanwhile, in February, Tata Elxsi's promoter group company, Tata Investment Corporation Limited,  sold 150,000 shares of the company worth Rs 109 crore. Stock market data show that Tata Investment Corporation sold these shares in the open market between February 10, 2022, and February 16, 2022. The buyer's name is yet not revealed.