Tata Elxsi shares drop 1.47% as Sensex falls

Shares of Tata Elxsi Ltd. traded 1.47 per cent lower in Friday's session at 01:48PM (IST). The stock opened at Rs 7668.2 and has touched an intraday high and low of Rs 7669.15 and Rs 7488.0, respectively, during the session so far.

The stock quoted a 52-week high of Rs 10760.4 and a 52-week low of 5708.1. About 16,826 shares changed hands on the counter so far.

Benchmark Nifty50 was down 56.3 points at 18714.95, while the BSE Sensex traded 101.38 points lower at 63137.51 at the time of writing of this report.

In the Nifty pack, 14 stocks traded the day in the green, while 35 were in the red.


Key Financials
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 year-ago quarter. The company reported net profit of Rs 201.52 crore for the latest quarter.

Promoter Holdings
Promoters held 43.92 per cent stake in the company as of 31-Mar-2023, while FIIs held 13.85 per cent and MFs 1.85 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 6995.31 on June 23, while the 50-DMA was at Rs 7126.54. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.