Multibagger Alert: Tata Elxsi Trades at life highs; the stocks gains more than 6 per cent

The share price of Tata Elxsi has risen by more than 6 per cent on Tuesday trading session to hit an all time high.

The share price of Tata Elxsi has jumped higher by 353 per cent in one year while in 2021 alone the share price of Tata Elxsi has gained 150 per cent. In one month the stock is up by more than 10 per cent. 

On 11th August, on daily charts the stocks made a bullish hammer pattern and since then the stock has been in an uptrend.

Tata Elxsi reported strong set of numbers in the first quarter. Tata Elxsi is amongst the world’s leading providers of design-led technology services. The company reported ₨ 558.3 Cr of revenue from operations for Q1 FY22, registering a growth of 39.4% YoY. During the period reported, company generated PBT of Rs 153.9 Cr, registering a growth of 63.9% YoY. Company’s net profit for the quarter stood at Rs 113.4 Cr, reporting a growth of 64.6% YoY.

Tata Elxsi is one of the top performing stocks from the Tata Group. 

BSE Sensex is trading with negligible gains and BSE SmallCap Index is seen outperforming the frontline indices on Tuesday.