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Tata Elxsi Plunges 3%; BSE IT Index Down 0.4%
Thu, 24 Oct 13:23

Tata Elxsi Plunges 3%; BSE IT Index Down 0.4%Image source: DNY59/www.istockphoto.com

Tata Elxsi share price has plunged 3% and is presently trading at Rs 7,001.9.

Meanwhile, the BSE IT index is at 42,046.4 (down 0.4%).

Among the top losers in the BSE IT index today are KPIT TECHNOLOGIES (down 12.7%) and Birlasoft (down 4.3%).

CYIENT (up 3.1%) and Coforge (up 2.4%) are among the top gainers today.

Over the last one year, Tata Elxsi has moved down from Rs 7,337.2 to Rs 7,001.9, registering a loss of Rs 335.3 (down 4.6%).

On the other hand, the BSE IT index has moved up from 31,255.0 to 42,046.4, registering a gain of 34.5% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 181.6%), Firstsource Solutions (up 113.1%) and PERSISTENT SYSTEMS (up 96.4%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 80,064.6 .

The top losers among the BSE Sensex today are Hindustan Unilever (down 6.4%) and Nestle (down 4.2%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,401.9 (down 0.1%). Hindustan Unilever and SBI LIFE INSURANCE are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 80,064.6, registering a gain of 15,492.7 points (up 24.0%).

Tata Elxsi Financial Update...

Tata Elxsi net profit grew 14.7% YoY to Rs 2,294 million for the quarter ended September 2024, compared to a profit of Rs 2,000 million a year ago. Net sales rose 8.3% to Rs 9,551 million during the period as against Rs 8,817 million in July-September 2023.

For the year ended March 2024, Tata Elxsi reported 4.9% increase in net profit to Rs 7,922 million compared to net profit of Rs 7,552 million during FY23. Revenue of the company grew 13.0% to Rs 35,521 million during FY24.

The current Price to earnings ratio of Tata Elxsi, based on rolling 12 month earnings, stands at 53.4.

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