Tata Elxsi hits 52-week high after board approves 1:1 bonus issue

Tata Elxsi gained 4.92% to Rs 1,761.10 at 14:25 IST on BSE after the company said that its board of directors recommended 1:1 bonus issue of shares.

The announcement was made during market hours today, 27 July 2017.

Meanwhile, the S&P BSE Sensex was up 173.49 points, or 0.54% to 32,555.95. The S&P BSE Mid-Cap index was down 31.98 points, or 0.21% to 15,307.78.

High volumes were witnessed on the counter. On the BSE, 2.72 lakh shares were traded in the counter so far, compared with average daily volumes of 81,459 shares in the past one quarter. The stock had hit a high of Rs 1,766.60 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 1,666.10 so far during the day. The stock had hit a 52-week low of Rs 1,021.65 on 21 November 2016.

The stock had outperformed the market over the past one month till 26 July 2017, gaining 4.5% compared with the Sensex's 4% rise. The stock had, however, underperformed the market over the past one quarter, rising 7.12% as against the Sensex's 7.46% rise. The scrip had also underperformed the market over the past one year, gaining 1.31% as against the Sensex's 15.75% rise.

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

Tata Elxsi said that the board appointed H V Muralidharan as CFO with immediate effect.

Tata Elxsi's net profit rose 14.37% to Rs 49.74 crore on 2.18% rise in net total income from operations to Rs 331.16 crore in Q1 June 2017 over Q4 March 2017. The result was announced during market hours today, 27 July 2017.

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

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