Tata Elxsi surges on heavy volumes

The stock rallied 11% to Rs 1,505 on back of over five-fold jump in trading volumes.

Tata Elxsi has moved higher by 11% to Rs 1,505 on the BSE in the noon deals after the company announced the licensing of its advanced autonomous vehicle middleware platform “Autonomai” to one of the world’s top 5 automotive OEMs (original equipment manufacturer) for their driverless car R&D.

“The Autonomai platform provides carmakers and Tier 1 automotive suppliers with a comprehensive and modular solution covering perception, GNC and drive-by-wire systems, to quickly build, test and deploy autonomous vehicles,” Tata Elxsi, a Tata Group company said in a press release.

This solution supports sensor fusion with a variety of sensors from cameras to Radar and Lidar, and leverages sophisticated artificial intelligence (AI) and deep learning based algorithms to deliver the complex use-case scenarios expected of driverless cars.

Autonomai also allows rapid region specific adaptation through its pre-integrated validation datasets and AI & deep learning capabilities, it added.

At 01:53 pm; the stock was up 10% at Rs 1,495 on BSE, as compared to 0.20% rise in the S&P BSE Sensex. The trading volumes on the counter jumped more than five-fold with a combined 1.54 million shares changed hands on the BSE and NSE.