Tata Elxsi corrects on profit booking

Tata Elxsi fell 2.28% to Rs 1,505.40 at 14:14 IST on BSE on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was up 19.91 points, or 0.06% to 31,210.47.

On the BSE, 1.30 lakh shares were traded in the counter so far, compared with average daily volumes of 54,250 shares in the past one quarter. The stock had hit a high of Rs 1,562.20 and a low of Rs 1,481 so far during the day. The stock hit a 52-week high of Rs 1,827 on 9 June 2016. The stock hit a 52-week low of Rs 1,021.65 on 21 November 2016.

The stock had underperformed the market over the past one month till 6 June 2017, rising 0.72% compared with 4.23% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 6.53% as against Sensex's 7.92% rise. The scrip had also underperformed the market in past one year, falling 14.64% as against Sensex's 15.48% rise.

The mid-cap company has equity capital of Rs 31.14 crore. Face value per share is Rs 10.

Shares of Tata Elxsi rose 13.41% in two trading sessions to settle at Rs 1,540.50 yesterday, 6 June 2017, from its close of Rs 1,358.40 on 2 June 2017.

Recent gain in the stock price was triggered by the company's driverless car platform being selected by leading original equipment manufacturer. Tata Elxsi announced the licensing of its advanced autonomous vehicle middleware platform 'AUTONOMAI' to one of the world's top 5 automotive OEMs (original equipment manufacturers) for their driverless car R&D (research and development).

The Autonomai platform provides carmakers and Tier 1 automotive suppliers with a comprehensive and modular solution covering perception, GNC (guidance navigation control) and drive-by-wire systems, to quickly build, test and deploy autonomous vehicles.

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.

Net profit of Tata Elxsi rose 8.3% to Rs 44.50 crore on 10.92% rise in net sales to Rs 326.05 crore in Q4 March 2017 over Q4 March 2016.

Tata Elxsi is a global design and technology services company, headquartered in Bangalore.

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