Tata Elxsi shares jumped 12% today
Business: Shares of Tata Elxsi Ltd rose in the last trade on Monday, marking its sixth consecutive session of gains. The stock rose 11.91 per cent to hit an intraday high of Rs 7,930.65. It finally closed 8.88 per cent higher at Rs 7,715.95 on the BSE. At this price, the stock has gained 10.84 per cent in the last one month but has declined 11.78 per cent on a year-to-date (YTD) basis. The stock witnessed heavy trading volumes today as close to 50,000 shares were traded. This figure was higher than the two-week average turnover of 5,381 shares. The stock traded at Rs 37.87 crore, giving it a market capitalisation (m-cap) of Rs 48,052.19 crore. The stock is trading above the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMA). The 14-day relative strength index (RSI) of the stock came in at 78.91. A level below 30 is defined as oversold while a value above 70 is considered overbought.
According to BSE,
The price-to-equity (P/E) ratio of the company’s stock is 56.04, while the price-to-book (P/B) value is 17.61. Earnings per share (EPS) stood at 126.45, while the return on equity (ROE) stood at 31.43. Brijesh Singh of StockAxis told Business Today TV, “If one wants to go for BTST (buy today, sell tomorrow), one can consider Tata Elxsi. Keep a stop loss at Rs 7,700 for this trade and a target of Rs 8,200 for the near term.” With that being said, Kotak Institutional Equities has assigned a ‘sell’ rating to the stock and has a fair value of Rs 5,500. On the earnings front, the Tata Group company reported a 3 per cent decline in net profit to Rs 184 crore for the first quarter ended June 2024 (Q1 FY25). The profit stood at Rs 189 crore in the year-ago period. Revenue from operations in Q1 FY25 grew 9 per cent year-on-year (YoY) to Rs 926 crore compared to Rs 850 crore in the same period last year.
