Since its March 2020 low, this Tata Group company’s stock has increased more than 1,100%.

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Tata Elxsi shares defied the bearish market sentiment and reached a record high of Rs 6,274.70 on the BSE on Wednesday, up 7.5% during intra-day trading. The Sandamp;P BSE Sensex, in contrast, was down 0.36% at 59,531 points at 1:53 PM.

Compared to a 50% increase in the Sandamp;P BSE Sensex over the past year, the stock of the Tata Group’s information technology (IT) products company has increased by 345%. Additionally, the market price of Tata Elxsi has increased by 1,152%, or Rs 5,774, from its level of Rs 501 on March 25, 2020 on the BSE. The benchmark Sensex has increased by 126% over the same time frame.

Tata Elxsi is a multinational provider of design and technology services. Tata Elxsi collaborates with top MSOs, studios, and content suppliers to develop cutting-edge services and applications that increase subscriber retention and boost revenue. As of June 30, 2021, the promoter, Tata Sons, has a 44.53 percent ownership in Tata Elxsi.

Tata Exlsi reported a growth in operating revenues of 39.4% year over year (YoY) to Rs 558 crore for the April–June quarter (Q1FY22). The company’s profit before tax (PBT), which includes the additional Rs 33 crore in employee expenses as a result of the special one-time bonus for all of our employees, increased by 63.9% YoY during the quarter to Rs 153.9 crore.

The company’s management stated that it expects the automotive market to continue its recovery for a third consecutive quarter when announcing Q1FY22 results. In the fields of EV and autonomous technologies, the company has also secured sizable and important contracts with both OEMs and suppliers. The business also secured important contracts in the creation of video platforms, OTT, and digital health.

For their next-generation digital health platform, a major international healthcare provider chose Tata Elxsi as their key digital and development partner. The business was chosen as the strategic development partner for the next-generation EV system development by a major international car OEM. Tata Elxsi stated in an investor presentation that a major innovator and systems supplier with a European base had awarded the business their EV platform development program.

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