Share price of Tata Elxsi rises as Nifty weakens

Shares of Tata Elxsi Ltd. gained 0.08 per cent to Rs 7227.05 in Tuesday's trade as of 11:52AM (IST). The stock hit a high price of Rs 7267.0 and low of Rs 7175.0 during the session.

The return on equity (ROE) for the stock stood at 36.2 per cent. Traded volume on the counter stood at 11:52AM shares and turnover at Rs 1.38 crore around that time. The stock of Tata Elxsi Ltd. quoted a 52-week high price of Rs 8694.9 and 52-week low prices of Rs 5708.1, respectively.

The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.02.


Promotor/FII Holding
Promoters held 43.92 per cent stake in the company as of 30-Jun-2023, while foreign investors held 14.22 per cent and domestic institutional investors had 2.4 per cent.

Key Financials
The company reported consolidated sales of Rs 872.48 crore for the quarter ended 30-Jun-2023, up 1.03 per cent from previous quarter's Rs 863.61 crore and up 18.51 per cent from the year-ago quarter's Rs 736.21 crore. Net profit after tax for the latest quarter stood at Rs 188.85 crore, up 2.24 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.