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Tata Elxsi gains after robust Q3 numbers

Capital Market 

Tata Elxsi jumped 5.21% to Rs 891.5 after the company announced a robust Q3 result during market hours today, 13 January 2020.

On standalone basis, Tata Elxsi reported a 51.43% jump in net profit to Rs 75.42 crore in Q3 December 2019 as against a net profit of Rs 49.80 crore in Q2 September 2019. Revenue from operations rose 9.75% to Rs 423.43 crore on QoQ basis.

The stock trades above it 20 days and 50 days simple moving average placed at 841.65 and 824.89 respectively. These levels will act as crucial support zones in near term.

The stock witnessed a spurt in trading volume. On BSE, 1.09 lakh shares were traded on the counter so far as compared to a 2 week daily average of 24,000 shares.

Tata Elxsi is a global provider of design and technology services for product engineering and solutions across industries including broadcast, communications and automotive.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 13 2020. 13:52 IST