Choice Equity Broking has given Neutral recommendation for Tata Elxsi with a target price of Rs. 6755 in its research report issued on Mar 16, 2022
Choice Equity Broking’s report on Tata Elxsi
Tata Elxsi is amongst the fastest growing premium engineering service provider with domain expertise across industries, including Automotive, Broadcast, Communications, Healthcare, and Transportation. The company has recently opened a Global Engineering Center (GEC) in partnership with Schaeffler Technologies, a world leader in providing mechatronics solutions for the Transportation industry. Apart from being one of the top five ADAS service providers globally, it is also a significant contributor to the media & communications industry with innovative designs for 5G use cases & medical heath devices. In the recent past, the company has developed a niche clientele in the OTT media with rapid innovationsin the AdTech space.
Given the rich valuation, despite the company’s robust revenue growth & building pipeline of deal wins, we initiate a coverage on the stock with a NEUTRAL rating and a target price of Rs. 6,755.
At 16:01 hrs Tata Elxsi was quoting at Rs 7,201.60, up Rs 206.20, or 2.95 percent.
It has touched an intraday high of Rs 7,248.70 and an intraday low of Rs 7,040.00.
It was trading with volumes of 10,513 shares, compared to its thirty day average of 34,738 shares, a decrease of -69.74 percent.
In the previous trading session, the share closed down 2.41 percent or Rs 172.95 at Rs 6,995.40.
The share touched its 52-week high Rs 7,949.00 and 52-week low Rs 2,581.20 on 01 February, 2022 and 25 March, 2021, respectively.
Currently, it is trading 9.4 percent below its 52-week high and 179 percent above its 52-week low.
Market capitalisation stands at Rs 44,849.00 crore.