Tata Elxsi zooms to lifetime high
Tata Elxsi is turning out to be a star performer from the pack of Tata Group stocks. The stock jumped more than eight per cent on Friday, trading at Rs 3,291.55 per share.
The stock is reacting to the stellar Q4 results, where the company reported a jump of 8.7 per cent in revenue QoQ with expanding EBITDA margins by 230 bps to 32.4 per cent. The net profit was up by 9.5 per cent QoQ to Rs 115.2 crore.
The superlative performance was aided by the industrial design & visualisation (IDV) segment, growing by more than 40 per cent QoQ. Going forward, the stock is expected to deliver strong growth due to the increased demand for engineering services and greater offshoring opportunities.
In one year, the stock has increased by more than 350 per cent while on a YTD basis alone, the stock is up by more than 77 per cent. Trading at its lifetime high, the stock is showing good momentum in volatile markets.