Buy Tata Elxsi, target price Rs 8780: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Tata Elxsi with a target price of Rs 8780. The current market price of Tata Elxsi Ltd. is Rs 8357.75. 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 52050.65 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 31-03-2022, the company reported a Standalone Total Income of Rs 699.83 Crore, up 9.02 % from last quarter Total Income of Rs 641.92 Crore and up 33.24 % from last year same quarter Total Income of Rs 525.22 Crore. Company reported net profit after tax of Rs 160.01 Crore in latest quarter.

Investment Rationale
Formation of Long legged Doji on weekly scale indicates declines are being bought

Promoter/FII Holdings
Promoters held 44.08 per cent stake in the company as of 31-Mar-2022, while FIIs owned 13.15 per cent, DIIs 4.94 per cent.