Tata Elxsi rebounds on strong Q2 earnings

Tata Elxsi rose 1.7% to Rs 627.35 at 15:16 IST on BSE after consolidated net profit rose 13.66% to Rs 23.63 crore on 7.93% growth in total income from operations to Rs 205.88 crore in Q2 September 2014 over Q1 June 2014.

The Q2 result was announced during market hours today, 29 October 2014.

Meanwhile, the S&P BSE Sensex was up 221.94 points or 0.83% at 27,102.76.

On BSE, so far 4.21 lakh shares were traded in the counter as against average daily volume of 1.44 lakh shares in the past one quarter.

The stock was volatile. The stock surged as much as 5.17% at the day's high of Rs 648.80 so far during the day. The stock lost as much as 0.7% at the day's low of Rs 612.50 so far during the day. The stock had hit a record high of Rs 699.30 on 22 September 2014. The stock had hit a 52-week low of Rs 217 on 31 October 2013.

The stock had underperformed the market over the past one month till 28 October 2014, sliding 0.1% compared with Sensex's 0.96% rise. The scrip had also underperformed the market in past one quarter, advancing 2.09% as against Sensex's 3.42% rise.

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

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.

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