Tata Elxsi zooms for second straight session; heavy volumes drive 13.5% surge

Tata Elxsi share price: Tata Group’s IT and design services provider Tata Elxsi has jumped over 12 per cent on Monday after ending over 10 per cent higher on August 27. According to the data from BSE, the stock's trading volume is witnessing a nearly 32 times jump with the total quantity traded (TQQ) reaching 3.17 lakh from 10,000 shares within a few days. 

With today’s rise, year-to-day returns of Tata Elxsi have turned positive while the yearly gains for the stock amount to 18.66 per cent. 

After falling from the Rs 9,200 level in December 2023, the stock movement remained muted with this week’s surge becoming the biggest move in the last 12 months.

Apart from Tata Elxsi, Tata Technologies Limited, TVS Holdings, Gujarat Ambuja Exports, and Gujarat State Petronet Limited are other stocks which have recorded substantial rises in the trading volume on BSE, August 27. 

For the quarter ending June 2024 (Q1FY25), the company has reported a 3 per cent decline in the net profit at Rs 184 crore compared to Rs 188 crore profit reported in the same quarter of the last fiscal. The company’s revenue from operations grew 9 per cent from Rs 850 crore in Q1FY24 to Rs 926 crore in Q1FY25.

On Tuesday, the National Stock Exchange’s Nifty 50 shied off only five points from breaking past its all-time high as the index retracted from the 25,073.10 levels. As of 01:43 pm, the BSE’s 30-share Sensitive Index was trading 170 points or 0.22 per cent higher at 81,877.61, carrying forward the positive momentum from Monday. 

As of 01:43 pm, the company's shares were trading 13.48 per cent or 1039.85 points higher at Rs 8755.80 apiece.