Tata Elxsi rose 2.21% to Rs 1,450.45 at 11:00 IST on BSE after the company announced its partnership with DiSTI Corporation Florida, USA, the creators of user interface tool, GL Studio.
The announcement was made after market hours yesterday, 4 January 2017.Meanwhile, the S&P BSE Sensex was up 189.82 points or 0.71% at 26,822.95.
On the BSE, 37,603 shares were traded on the counter so far as against the average daily volumes of 84,479 shares in the past one quarter. The stock had hit a high of Rs 1,460 and a low of Rs 1,435 so far during the day. The stock had hit a record high of Rs 2,396 on 2 February 2016 and a 52-week low of Rs 1,021.65 on 21 November 2016.
The stock had outperformed the market over the past one month till 4 January 2017, rising 7.98% compared with Sensex's 1.53% gains. The stock had also outperformed the market in past one quarter, rising 0.32% as against Sensex's 6% decline.
The mid-cap company has equity capital of Rs 31.14 crore. Face value per share is Rs 10.
Tata Elxsi said the partnership will help the continued effort to provide best in-class user interface solutions to automotive clients delivering high end human machine interface (HMI) design, innovative and appealing visual content for futuristic displays in vehicles.
As the first step of this partnership, Tata Elxsi has developed an integrated e-cockpit solution with in-vehicle infotainment (IVI), IC, head up display (HUD), and advanced driver assistance systems, or ADAS features, all integrated on a single Renesas R-Car H3 platform, with the user experience (UX) developed completely using DiSTI's GL Studio. This solution will be on showcase at the Tata Elxsi and DISTI booths at CES 2017 in Las Vegas.
Separately, Irdeto, the world leader in digital platform security, announced a partnership with Tata Elxsi, a key global player in the automotive ecosystem, to provide automakers with secure in-car display systems for automobiles. The announcement was made after market hours yesterday, 4 January 2017.
Irdeto has combined its Cloakware for automotive by Irdeto security solution with Tata Elxsi's design and engineering expertise to offer secure, best-in-class user interface solutions and connected cockpit solutions to automotive clients around the world.
Tata Elxsi's net profit rose 2.74% to Rs 43.08 crore on 3.04% growth in net sales to Rs 303.29 crore in Q2 September 2016 over Q1 June 2016.
Tata Elxsi is a global product engineering services provider that works with leading original equipment manufacturers (OEMs) and semiconductor companies across consumer electronics, broadcast, wired and wireless communications and automotive verticals.
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