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Tata Elxsi tumbles over 16% in five sessions

Capital Market 

Tata Elxsi fell 3.24% to Rs 707.95 at 14:37 IST on BSE, extending recent steep losses.

Meanwhile, S&P BSE Sensex was down 462.61 points or 1.19% at 38,434.85.

On BSE, 1.85 lakh shares were traded in Tata Elxsi counter, compared to a 2-week average of 1.07 lakh shares. The share price hit an intraday high of Rs 749.70 and a 52-week intraday low of Rs 702.30 today, 19 July 2019. It hit a 52-week high of Rs 1,491.75 on 26 July 2018.

Shares of Tata Elxsi plunged 16.61% in five trading sessions to its current market price of Rs 707.95, from a recent closing high of Rs 849.05 on 12 July 2019.

Tata Elxsi's net profit fell 30.8% to Rs 48.79 crore on a 5.3% decline in net sales to Rs 361.71 crore in Q1 June 2019 over Q1 June 2018.

Sequentially, net profit declined 31.56% to Rs 48.79 crore on a 10.71% fall in net sales to Rs 361.71 crore in Q1 June 2019 over Q4 March 2018.

The result was announced during market hours on 17 July 2019. Following the result announcement, the stock fell 8.9% to end at Rs 742.40 on 17 July 2019.

The stock has fallen 13.12% in three sessions post Q1 results to its current price of Rs 707.95 from its close of Rs 814.95 on 16 July 2019.

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: Fri, July 19 2019. 15:01 IST