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Tata Elxsi share gains over 3% on strong Q1 earnings

Tata Elxsi share gains over 3% on strong Q1 earnings

Tata Elxsi stock rose 3.44% to Rs 952.60 against the previous close of Rs 920.85 on BSE

Share price of Tata Elxsi gained over 3% intra day after the firm reported 41% rise in its net profit in Q1. Tata Elxsi stock rose 3.44% to Rs 952.60 against the previous close of Rs 920.85 on BSE.

The firm posted net profit of Rs 68.87crore  in Q1 against Rs 48.79 crore net profit in the corresponding period of the previous year.

However, on a sequential basis, Q1 profit declined from Rs 82.08 crore of Q4FY20. Revenue from operations climbed to Rs 400.48 crore in Q1 against Rs 361.71 crore  a year ago. In the previous quarter, revenue stood at Rs 438.88 crore.

The Tata Group firm's total expense stood at Rs 319.98 crore against Rs 303.62 crore in corresponding quarter of previous fiscal.

Total 1.01 lakh shares changed hands amounting to turnover of Rs 9.44 crore. The stock closed flat at Rs 921.05. Market cap of the firm stood at Rs 5,735 crore.

The share has gained 3.37% in 5 days. Tata Elxsi share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has risen 31.32% during last one year and climbed 11.56% since the beginning of this year.

The stock fell to intra day low of Rs 918.30 on BSE.

Tata Elxsi is amongst the world's leading providers of design and technology services for product engineering and solutions across industries including Broadcast, Communications and Automotive. It provides technology consulting, new product design, development, and testing services.

Meanwhile, Sensex ended 511 points higher at 37,930 and Nifty gained 140 points to 11,162.

Published on: Jul 21, 2020, 5:37 PM IST
Posted by: Aseem Thapliyal, Jul 21, 2020, 5:37 PM IST