Tata Elxsi creates fresh 52-week high amid markets going down
Robust Q3 results boosted shareholders’ confidence.
While the broad market Sensex has closed down by over 1 per cent, this Tata stock has rallied its way through to hit a fresh 52-week high of Rs 7,171.15 on the BSE today. Tata Elxsi, which is engaged in the business of providing design-led technology services, has delivered yet another exceptional quarterly performance as its revenue grew by 6.73 per cent on a sequential basis and 33.18 per cent on a YoY to Rs 635.4 crore in Q3.
Notably, the constant currency revenue growth stood at 6.5 per cent QoQ and 33.2 per cent YoY. The higher topline was backed by large deal wins in the quarter. Its automotive segment witnessed stellar growth. The company’s largest division- Embedded Product Design (EPD) was the star performer as the division grew by 9.9 per cent QoQ and 36 per cent YoY.
The company also recorded its highest-ever net profit of Rs 151 crore for a quarter, which jumped by 20.4 per cent QoQ and 43.5 per cent YoY. For its loyal shareholders, the stock has been no less than a lottery ticket as it has been a multibagger of the year delivering 150 per cent returns. In last month alone it has generated 28 per cent return. The stock closed at Rs 6,980.65, up by 9.58 per cent on the BSE.