The company made the announcement after market hours on Tuesday, 4 December 2012.
Meanwhile, the BSE Sensex was up 54.05 points or 0.28% at 19,402.17.
On BSE, 23,000 shares were traded in the counter as against average daily volume of 16,869 shares in the past one quarter.
The stock hit a high of Rs 244.95 and a low of Rs 239 so far during the day. The stock had hit a 52-week high of Rs 254.10 on 16 July 2012. The stock had hit a 52-week low of Rs 167.10 on 22 December 2011.
The stock had outperformed the market over the past one month till 4 December 2012, surging 7.09% compared with the Sensex's 3.16% rise. The scrip had also outperformed the market in past one quarter, jumping 11.49% as against Sensex's 10.94% surge.
The small-cap company has equity capital is Rs 31.14 crore. Face value per share is Rs 10.
Tata Elxsi and UAE's leading brand consultancy firm, Brash Brands, on Tuesday, 4 December 2012, announced a major strategic partnership to deliver full service brand consultancy and integrated design services in India and other key international markets including GCC and Asia. Through this exclusive partnership, Tata Elxsi will build Brash Brands' business in India and Brash Brands will represent Tata Elxsi's portfolio of design services throughout its international offices such as Dubai, Abu Dhabi, Saudi Arabia, Qatar and Singapore. The relationship's first combined service will be to set up joint operations in Bangalore to address brand development and consultancy services in India, and target product design, signage and way finding markets in the GCC and Asia, Tata Elxsi said in a statement.
Commenting on the strategic partnership with Brash Brands, Madhukar Dev, Managing Director & CEO Tata Elxsi said, "Brash Brands offers a best in breed service that fully complements our own.
This partnership enables us to provide our customers a unique set of full-service offerings initially targeted at India, Dubai, Abu Dhabi, Saudi Arabia, Qatar and Singapore".
Commenting on the partnership, John Brash, Founder & CEO of Brash Brands said, "This is a big step for our organization and it vindicates our business strategy. We don't want to be the biggest. We just want to offer our enterprise clients excellence to realize the potential of their brands. Tata Elxsi understands the power of this proposition and the need for excellent brand development services in India. Through this strategic partnership we are both committed to offering a set of high quality, focused services that will change the nature of brand consultancy in India and our international markets".
Brash Brands helps clients create and build stronger brands in order to drive commercial value. The consultancy benefits from a wide selection of capabilities and industry experience across a variety of sectors, with particular strengths in transport & logistics, IT & networks, real estate, infrastructure and municipal services, welfare & education, hospitality and industrial companies.
Tata Elxsi's consolidated net profit fell 83.5% to Rs 1.81 crore on 13.1% growth in net sales to Rs 155.36 crore in Q2 September 2012 over Q2 September 2011.
Tata Elxsi is a design company that blends technology, creativity and engineering to help customers transform ideas into world-class products and solutions. A part of the $100 billion Tata group, Tata Elxsi addresses the communications, consumer products, defence, healthcare, media & entertainment, semiconductor and transportation sectors. The company has a network of design studios, development centers and offices worldwide.
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