Tata Elxsi is trading higher by 3% at Rs 302, extending its month long rally on the bourses, after reporting robust performance for the quarter ended September 2013 (Q2FY14).
The stock opened at Rs 294 and touched high of Rs 307, its highest level since January 2011, on the BSE. A combined 1.10 million shares have already changed hands on the counter till 1010 hours against an average sub around one million shares that were traded daily in past two weeks on the NSE and BSE.
Shares of Tata Group IT software products firm has outperformed the market by surging 57% since October 28, after the company reported over two-fold jump in consolidated net profit at Rs 19.93 crore for Q2FY14 against Rs 8.93 crore in a year ago quarter. The benchmark S&P BSE Sensex has gained 1% during the same period.
Meanwhile, the company has surpassed its last fiscal’s net profit in just six months of the current financial year.
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.
The stock opened at Rs 294 and touched high of Rs 307, its highest level since January 2011, on the BSE. A combined 1.10 million shares have already changed hands on the counter till 1010 hours against an average sub around one million shares that were traded daily in past two weeks on the NSE and BSE.
Shares of Tata Group IT software products firm has outperformed the market by surging 57% since October 28, after the company reported over two-fold jump in consolidated net profit at Rs 19.93 crore for Q2FY14 against Rs 8.93 crore in a year ago quarter. The benchmark S&P BSE Sensex has gained 1% during the same period.
Meanwhile, the company has surpassed its last fiscal’s net profit in just six months of the current financial year.
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.
