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Tata Group Stock Jumps 4% Today, Gains 16% in 1 Month On Strong Growth Potential

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Tata Elxsi commenced its business on 5th May 1989 in Bangalore, the Silicon Valley of India, to develop and promote applications of electronics, embedded systems, and software. The Mission was to foster innovation in the fast-emerging IT market and accelerate the adoption of leading-edge technologies.

 
Tata Group Stock Jumps 4% Today, Gains 16% in 1 Month On Strong Growth Potential

Today, Tata Elxsi is recognized as a premium engineering service provider worldwide and amongst the leaders in the automotive, media, broadcast, communications, and healthcare industries.

The company has a market capitalization of Rs 57,995.25 crore. The Tata Group company Tata Elxsi shares jumped 4.02% to close at Rs 9312 apiece on BSE. The shares of the company have gained 16.31% in 1 month, 19% in 3 months, and 118% in 1 year. The stock has given multibagger returns. In the last 5 years, the stock has given strong return of 995% while in 3 years it has given return of 1439%.

The 52-week high of the stock is Rs 9420 apiece and 52-week low is 4112 apiece. It has a TTM PE of 93.35 and TTM EPS is 99.72.

Earlier, leading domestic brokerage Sharekhan has maintained buy call on the Tata Group stock with target price of Rs 9750 after business update by the company. According to Sharekhan, "We retain a Buy on Tata Elxsi given its strong growth potential, robust deal wins and consistent dividend payouts."

Tata Elxsi has declared a 63% year-on-year (YoY) growth in profit at Rs 184.7 crore for quarter ended June 2022. The company's revenue from operations grew to Rs 725.9 crore, a growth of 6.5% quarter-on-quarter (QoQ) and 30.0% YoY.

"We are starting FY23 on a strong note with 6.5% QoQ revenue growth in constant currency. This was all volume-led and supported by robust growth across divisions, verticals and key markets," Manoj Raghavan, CEO and Managing Director, Tata Elxsi, had said in a statement.

 

The above stock was picked from the brokerage report of Sharekhan. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.

Story first published: Friday, August 5, 2022, 17:28 [IST]
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