Reduce Tata Elxsi, target price Rs 6710: HDFC Securities

HDFC Securities has reduce call on Tata Elxsi with a target price of Rs 6710. The current market price of Tata Elxsi Ltd. is Rs 6967.05.

Tata Elxsi Ltd., incorporated in the year 1989, is a Mid Cap company (having a market cap of Rs 43328.52 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-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Standalone Total Income of Rs 958.54 Crore, up 2.01 % from last quarter Total Income of Rs 939.63 Crore and up 9.86 % from last year same quarter Total Income of Rs 872.48 Crore. Company reported net profit after tax of Rs 184.08 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 43.92 per cent stake in the company as of 31-Mar-2024, while FIIs owned 14.55 per cent, DIIs 6.04 per cent.