Tata Elxsi rose 5.05% to Rs 1,567 at 10:45 IST on BSE, extending yesterday's gains triggered by the company's driverless car platform being selected by leading original equipment manufacturer.
The announcement was made during trading hours yesterday, 5 June 2017. Shares of Tata Elxsi rose 9.81% to settle at Rs 1,491.70 yesterday, 5 June 2017. The stock has risen 15.36% in two trading sessions from its close of Rs 1,358.40 on Friday, 2 June 2017.
Meanwhile, the S&P BSE Sensex was up 2.73 points, or 0.01% to 31,312.22.
On the BSE, 2.69 lakh shares were traded in the counter so far, compared with average daily volumes of 47,495 shares in the past one quarter. The stock had hit a high of Rs 1,598 and a low of Rs 1,496.55 so far during the day. The stock hit a 52-week high of Rs 1,827 on 9 June 2016. The stock hit a 52-week low of Rs 1,021.65 on 21 November 2016.
The stock had underperformed the market over the past one month till 5 June 2017, falling 3.31% compared with 4.86% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.35% as against Sensex's 7.97% rise. The scrip had also underperformed the market in past one year, falling 16.02% as against Sensex's 16.92% rise.
The mid-cap company has equity capital of Rs 31.14 crore. Face value per share is Rs 10.
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Tata Elxsi announced the licensing of its advanced autonomous vehicle middleware platform "AUTONOMAI" to one of the world's top 5 automotive OEMs (original equipment manufacturers) for their driverless car R&D (research and development).
The Autonomai platform provides carmakers and Tier 1 automotive suppliers with a comprehensive and modular solution covering perception, GNC (guidance navigation control) and drive-by-wire systems, to quickly build, test and deploy autonomous vehicles.
This solution supports sensor fusion with a variety of sensors from cameras to radar and lidar, and leverages sophisticated artificial intelligence (AI) and deep learning based algorithms to deliver the complex use-case scenarios expected of driverless cars.
Autonomai also allows rapid region specific adaptation through its pre-integrated validation datasets and AI & deep learning capabilities.
Net profit of Tata Elxsi rose 8.30% to Rs 44.50 crore on 10.92% rise in net sales to Rs 326.05 crore in Q4 March 2017 over Q4 March 2016.
Tata Elxsi is a global design and technology services company, headquartered in Bangalore.
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