Tata Elxsi fell 3.24% to Rs 707.95 at 14:37 IST on BSE, extending recent steep losses.
Meanwhile, S&P BSE Sensex was down 462.61 points or 1.19% at 38,434.85.
On BSE, 1.85 lakh shares were traded in Tata Elxsi counter, compared to a 2-week average of 1.07 lakh shares. The share price hit an intraday high of Rs 749.70 and a 52-week intraday low of Rs 702.30 today, 19 July 2019. It hit a 52-week high of Rs 1,491.75 on 26 July 2018.
Shares of Tata Elxsi plunged 16.61% in five trading sessions to its current market price of Rs 707.95, from a recent closing high of Rs 849.05 on 12 July 2019.
Tata Elxsi's net profit fell 30.8% to Rs 48.79 crore on a 5.3% decline in net sales to Rs 361.71 crore in Q1 June 2019 over Q1 June 2018.
Sequentially, net profit declined 31.56% to Rs 48.79 crore on a 10.71% fall in net sales to Rs 361.71 crore in Q1 June 2019 over Q4 March 2018.
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The result was announced during market hours on 17 July 2019. Following the result announcement, the stock fell 8.9% to end at Rs 742.40 on 17 July 2019.
The stock has fallen 13.12% in three sessions post Q1 results to its current price of Rs 707.95 from its close of Rs 814.95 on 16 July 2019.
Tata Elxsi is a global provider of design and technology services for product engineering and solutions across industries including broadcast, communications and automotive.
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