Tata Elxsi jumps almost 6 per cent on collaborating with Syntiant for developing low-power AI devices
Tata Elxsi and Syntiant Corporation today announced a collaboration to help manufacturers design & develop low-power always-on voice applications across various product categories. Some of those categories include smart home devices and consumer electronics along with industrial & automotive use cases.
The developed application aims to provide end-to-end solutions and services for customers using Syntiant’s deep learning Neural Decision Processors™. The applications will support speaker identification, keyword spotting, multiple wake words, event detection, and local commands recognition.
Reacting to this, the stock of the company today increased by 6.67 per cent and made an intraday high of Rs 2,643.30 per share.
The company reported a net profit of Rs 105.20 crore in Q3FY21, an increase of 39.49 per cent. It had reported a profit of Rs 75.42 crore in Q3FY20. The company reported net sales of Rs 477.10 crore for Q3FY21, an increase of 12.67 per cent as against the net sales of Rs 423.44 crore for Q3FY20.
According to BSE data, the stock traded at a P/E multiple of 46.06 and a price-to-book ratio of 13.61. The stock has a 52-week high and a 52-week low of Rs 2,849.50 and Rs 501, respectively.
At 12.26 pm on Wednesday, the stock of the company was trading at Rs 2,621.95, up by 5.81 per cent on BSE.