New Delhi: Tata Group company Tata Elxsi’s share price rose 16.49 per cent on Tuesday to Rs 8,950.10 apiece on Tuesday, August 27, 2024. The company’s stock closed at Rs 7,715.95 apiece on Monday. On Tuesday, the stock hit a high of Rs 9,082.90 apiece and a low of Rs 7,744.60 apiece.
Tata Elxsi’s share price inched closer to its 52-week high of Rs 9,191.10 apiece on Tuesday. Tata Elxsi’s market cap stood at Rs 55,864.15 crore as of market closing on Tuesday.
Tata Elxsi share price history
Tata Elxsi’s share price rose 29.11 per cent in the past 5 days. The company’s share price rose 29.15 per cent in the past month. In the past 6 months, Tata Elxsi’s share price was up 17.86 per cent. Tata Elxsi’s share price rose 21.37 per cent in the past year.
The company reported a 21 per cent loss so far this year, making it the worst-performing company in the Tata Groupo portfolio, reported CNBCTV18. The company competes with KPIT Tech and L&T Technology Services. Over the past year, L&T Technology Services’ stock rose 25.77 per cent while KPIT Technologies’ share price jumped 61.58 per cent.
What is driving Tata Elxsi’s growth
Tata Elxsi’s 2.4 per cent growth reported in Q2FY25 may be attributed to a rise in large deals with a rebound in the transportation vertical, CNBCTV18 reported, citing US investment bank JP Morgan. The investment bank forecast a 9.6 per cent annual growth for Tata ELxsi in FY25.
According to Equitymaster.com, the jump in Tata Elxsi’s share price may be attributed to the US Federal Reserve chairman’s rate cut indication, indicating positive prospects for the company, which in turn may have stoked buying among investors. With indications of the US economy gradually inching towards normalcy, a rise in SU companies’ IT spending is anticipated.
Analysts’ guidance on Tata Elxsi shares
Tata Elxsi’s shares have a sell rating from 9 of the 12 analysts covering the company. One analyst has given a hold rating on the company’s share price and a buy recommendation from the remaining 2 analysts.
Tata Elxsi share price: The company’s stock rose 16.49 per cent on Tuesday. This is one of the best das for the company’s stock in 9 years. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
