Tata Elxsi shares up 0.9% as Sensex falls

Shares of Tata Elxsi Ltd. gained 0.9 per cent to Rs 7752.0 in Tuesday's session as of 10:36AM (IST) even as the equity benchmark Sensex traded 334.47 points lower at 62833.83.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 10760.4 and a 52-week low of Rs 5708.1 on NSE. Around 2095 shares changed hands on the counter till 10:36AM (IST).

The stock opened at Rs 7683.05 and has touched an intraday high and low of Rs 7778.9 and Rs 7683.05 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 64.11, earnings per share (EPS) of Rs 121.26 and price to book value (PB) of 17.8, while the return on equity (ROE) stood at Rs 36.2.

Promoter/ FII Holding
The promoters held 43.92 per cent stake in the company as of June 20, while FII and MF ownerships stood at 13.85 per cent and 1.85 per cent, respectively.

Key Financials
With a market capitalisation of Rs 48414.95 crore, the company operates in the IT Consulting & Software - Mid Cap industry. For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 863.61 crore, up 3.19 per cent from the previous quarter?s Rs 836.88 crore and up 23.4 per cent from the same quarter a year ago. The company reported net profit of Rs 201.52 crore for the latest quarter, up 25.94 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 64.2. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.