Tata Elxsi hits record high after strong Q3 earnings

Tata Elxsi surged 7.42% to Rs 793 at 15:13 IST on BSE after consolidated net profit jumped 28.77% to Rs 27.75 crore on 11.47% growth in total income to Rs 221.81 crore in Q3 December 2014 over Q3 December 2013.

The Q3 result was announced during market hours today, 21 January 2015.

Meanwhile, the S&P BSE Sensex was up 120.95 points or 0.42% at 28,905.62.

The stock surged on heavy volumes. On BSE, so far 10.48 lakh shares were traded in the counter as against average daily volume of 1.12 lakh shares in the past one quarter.

The stock hit a high of Rs 813.70 so far during the day, which is a record high for the counter. The stock hit a low of Rs 728 so far during the day. The stock had hit a 52-week low of Rs 344 on 20 January 2014.

The stock had outperformed the market over the past one month till 20 January 2015, surging 26.28% compared with Sensex's 5.16% rise. The scrip had also outperformed the market in past one quarter, advancing 22.84% as against Sensex's 8.91% rise.

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

Tata Elxsi's board of directors at its meeting held today, 21 January 2015, re-designated Mr. K. Ramaseshan, VP (Finance & Operations) as the Chief Financial Officer (CFO) of the company with immediate effect.

Tata Elxsi is a global product engineering services provider that works with leading OEMs and semiconductor companies across consumer electronics, broadcast, wired and wireless communications and automotive verticals.

Powered by Capital Market - Live News