Tata Elxsi shares drop 0.6% as Sensex falls

Shares of Tata Elxsi Ltd. traded 0.6 per cent lower in Wednesday's session at 11:37AM (IST). The stock opened at Rs 7260.05 and has touched an intraday high and low of Rs 7313.8 and Rs 7225.65, respectively, during the session so far.

The stock quoted a 52-week high of Rs 9054.0 and a 52-week low of 5708.1. About 1,445 shares changed hands on the counter so far.

Benchmark Nifty50 was down 186.85 points at 19946.45, while the BSE Sensex traded 651.12 points lower at 66945.72 at the time of writing of this report.


In the Nifty pack, 13 stocks traded the day in the green, while 36 were in the red.


Key Financials
For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 872.48 crore, up 1.03 per cent from the previous quarter's Rs 863.61 crore and up 18.51 per cent from the year-ago quarter. The company reported net profit of Rs 188.85 crore for the latest quarter.

Promoter Holdings
Promoters held 43.92 per cent stake in the company as of 30-Jun-2023, while FIIs held 14.22 per cent and MFs 2.4 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 6851.0 on September 20, while the 50-DMA was at Rs 7281.82. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.