Share price of Tata Elxsi rises as Nifty weakens

A total of 2,079 shares changed hands on the counter till 11:06AM (IST).

Shares of gained 0.6 per cent to Rs 7262.5 in Thursday's trade as of 11:06AM (IST). The stock hit a high price of Rs 7316.0 and low of Rs 7239.85 during the session.

The return on equity (ROE) for the stock stood at 31.61 per cent. Traded volume on the counter stood at 11:06AM shares and turnover at Rs 1.51 crore around that time. The stock of quoted a 52-week high price of Rs 9191.1 and 52-week low prices of Rs 6720.05, 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 31-Mar-2024, while overseas investors held 14.56 per cent and domestic institutional investors had 1.81 per cent.

Key Financials
The company reported consolidated sales of Rs 939.63 crore for the quarter ended 31-Mar-2024, down 1.0 per cent from previous quarter's Rs 949.16 crore and down 8.8 per cent from the year-ago quarter's Rs 863.61 crore. Net profit after tax for the latest quarter stood at Rs 196.93 crore, down 2.27 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bullish 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.

Source: Stocks-Markets-Economic Times