Share price of Tata Elxsi rises as Nifty strengthens

Shares of Tata Elxsi Ltd. gained 1.07 per cent to Rs 6173.25 in Friday's trade as of 11:23AM (IST). The stock hit a high price of Rs 6198.3 and low of Rs 6145.55 during the session.

The return on equity (ROE) for the stock stood at 34.33 per cent. Traded volume on the counter stood at 11:23AM shares and turnover at Rs 2.13 crore around that time. The stock of Tata Elxsi Ltd. quoted a 52-week high price of Rs 10760.4 and 52-week low prices of Rs 5708.1, respectively.

The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.02.

Promotor/FII Holding
Promoters held 43.92 per cent stake in the company as of 31-Dec-2022, while overseas investors held 13.9 per cent and domestic institutional investors had 2.12 per cent.

Key Financials
The company reported consolidated sales of Rs 836.88 crore for the quarter ended 31-Dec-2022, up 7.04 per cent from previous quarter's Rs 781.84 crore and up 30.37 per cent from the year-ago quarter's Rs 641.92 crore. Net profit after tax for the latest quarter stood at Rs 194.68 crore, up 28.97 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.