Buy Tata Elxsi, target price Rs 5750: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Tata Elxsi with a target price of Rs 5750. The current market price of Tata Elxsi is Rs 5262.95.

Time period given by analyst is Intra Day when Tata Elxsi Ltd. price can reach defined target.

Tata Elxsi Ltd., incorporated in the year 1989, is a Mid Cap company (having a market cap of Rs 34193.81 Crore) operating in IT Software sector.


Financials
For the quarter ended 30-06-2021, the company reported a Standalone Total Income of Rs 575.82 Crore, up 9.63 % from last quarter Total Income of Rs 525.22 Crore and up 39.11 % from last year same quarter Total Income of Rs 413.94 Crore. Company reported net profit after tax of Rs 113.38 Crore in latest quarter.

Investment Rationale
Follow up buying seen after a price rally and breakout on weekly frame wit increased volumes

Promoter/FII Holdings
Promoters held 44.53 per cent stake in the company as of Dec 30, 2020, while FIIs held 12.62 per cent, DIIs 4.82 per cent and public and others 38.03 per cent.