Tata Group Mid Cap Stock Hits 2nd Consecutive Fresh 52-Week High

Tata Group IT Software sector stock, Tata Elxsi witnessed second consecutive fresh 52-week high in trade today but despite that shares closed 1.79% down on BSE to 8301.85 apiece. Tata Elxsi shares offered return of 17% in last 3-months and gained 447% in last 3-years. The mid cap company reported its quarterly earnings last month on October 17 and registered a surge of 15% in its net profit to Rs 200 crore. Check details below:

Tata Elxsi Stock Performance & Return: Last trading price of Tata Elxsi stock on BSE is Rs 8301.85 apiece. Its 52-week high price is Rs 8576.25 per share and 52-week low price is Rs 5708.10 per share, respectively. Tata Elxsi has a market capitalisation of Rs 51,700.97 crore as on November 17, 2023. Tata Elxsi shares gained 17% in last 6-months, soared 21% in last 1-year, and offered return of 26% in last 2-years. In last 5-years, Tata Elxsi shares gained 761%.

Tata Elxsi Q2 Financial Performance: The IT Software company of Tata Group on October 17, 2023 declares a growth of 14.8% year-on-year (YoY) in its net profit to Rs 200 crore for Q2 ended September 30, 2023 as against the net profit of Rs 174.3 crore declared in the corresponding period of last year, as per the company's regulatory filing.

Its revenue from operations surged by 15.5% to Rs 881.7 crore from Rs 763.2 crore in the similar period of last fiscal. The company's earnings per share or EPS for the quarter under consideration stood at Rs 32.12, soaring 5.9% quarter-on-quarter and 14.8% year-on-year.

Manoj Raghavan, CEO and Managing Director, said Tata Elxsi declared top-line growth of 3.7% QoQ and 15.5% YoY in a challenging quarter for the industry. The company's EBITDA jumped 4.8% QoQ and 16.3% YoY and the EBITDA margin improved by 31 bps to 29.9% adding, "our employee engagement and talent retention strategies have contributed to attrition further improving to 13.7%." Tata Elxsi added 585 employees during the quarter.

About: Tata Elxsi is amongst the world's leading providers of design and technology services across industries including Automotive, Broadcast, Communications, Healthcare, and Transportation. Tata Elxsi is helping customers reimagine their products and services through design thinking and the application of digital technologies such as IoT (Internet of Things), Cloud, Mobility, Virtual Reality, and Artificial Intelligence, according to its official website.

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