Shares in Tata Elxsi has surged over 15% to Rs 337 in early noon deals on NSE on back of heavy volumes.
A combined 3.96 million shares representing 12.7% total equity of the company have already changed hands till 1130 hours against around one million shares that were traded daily in past two weeks on the NSE and BSE. The stock hit a record high of Rs 365 on May 29, 2007.
Tata Elxsi, a Tata Group Company engaged in IT software products business was in focus after reporting a robust performance for the first half (April – September) of the current financial year 2013-14.
Since October 28, the stock has rallied 71% compared to 1.2% rise in the benchmark S&P BSE Sensex during the same period.
Tata Elxsi has posted a consolidated profit of Rs 28.86 crore for H1FY14, on the back of strong operational income and higher other income. The company had clocked in a net profit of Rs 21.31 crore in the entire previous fiscal.
A combined 3.96 million shares representing 12.7% total equity of the company have already changed hands till 1130 hours against around one million shares that were traded daily in past two weeks on the NSE and BSE. The stock hit a record high of Rs 365 on May 29, 2007.
Tata Elxsi, a Tata Group Company engaged in IT software products business was in focus after reporting a robust performance for the first half (April – September) of the current financial year 2013-14.
Since October 28, the stock has rallied 71% compared to 1.2% rise in the benchmark S&P BSE Sensex during the same period.
Tata Elxsi has posted a consolidated profit of Rs 28.86 crore for H1FY14, on the back of strong operational income and higher other income. The company had clocked in a net profit of Rs 21.31 crore in the entire previous fiscal.
