Buy Tata Elxsi, target price Rs 7500: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Tata Elxsi Ltd. with a target price of Rs 7500. The current market price of Tata Elxsi is Rs 7195.45. 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 44734.10 Crore) operating in IT Software sector.

Tata Elxsi Ltd. key Products/Revenue Segments include Software Development Charges and Traded Goods for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Standalone Total Income of Rs 641.92 Crore, up 7.39 % from last quarter Total Income of Rs 597.76 Crore and up 30.42 % from last year same quarter Total Income of Rs 492.18 Crore. Company reported net profit after tax of Rs 150.95 Crore in latest quarter.


Investment Rationale
Negated its lower highs of the last three sessions and continuously trending upwards on monthly frame

Promoter/FII Holdings
Promoters held 44.32 per cent stake in the company as of 31-Dec-2021, while FIIs owned 11.93 per cent, DIIs 5.54 per cent.