DBT Bureau
Bengaluru, 27 August 2024
Shares of Tata Elxsi jumped 16.5% on Tuesday to close at Rs 8,950.10, making it one of the major gainers on the bourses. At this price point, the scrip has gained 26.58% in just two trading days.
The counter saw high trading volume on Tuesday as around 4.81 lakh shares changed hands. The figure was higher than the two-week average volume of 10,000 shares. Its market capitalisation (m-cap) stood at Rs 55,864.15 crore.
The stock’s 52-week high stood at Rs 9,200.
Financials:
The company reported consolidated sales of Rs 958.54 crore for the first quarter ended June 30, 2024, up 2.01% from previous quarter’s Rs 939.63 crore and up 9.86% from the year-ago quarter’s Rs 872.48 crore.
Net profit after tax for the latest quarter stood at Rs 184.08 crore, down 2.53% from the same quarter a year ago.
Business Highlights:
- Transportation vertical grew strongly at 5.3% QoQ CC (constant currency), aided by deal wins and ramp-up of Software Defined Vehicle (SDV) engagements.
- Media and Communications vertical grew 0.5% QoQ CC, performing creditably in a difficult environment for the media and telecom industry.
- System Integration services grew strongly at 8.7% QoQ CC.
