TATA ELXSI Plunges by 11%; BSE IT Index Down 4.3%

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TATA ELXSI Plunges by 11%; BSE IT Index Down 4.3%
Thu, 19 Mar 09:38 AM

TATA ELXSI share price has plunged 11% and is presently trading at Rs 670.

Meanwhile, the BSE IT Index is at 11,297 (down 4.3%).

Among the top losers in the BSE IT Index today are TATA ELXSI (down 11.4%) and NIIT TECHNOLOGIES (down 15.9%).

MPHASIS (up 0.4%) is among the top gainer today.

Over the last one year, TATA ELXSI has moved down from Rs 983 to Rs 670, registering a loss of Rs 313 (down 31.8%)..

The BSE IT has moved down from 14,985 to 11,297, loss of 3,688 points (down 24.6%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were [param_historic_top3].

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What About the Benchmark Indices?

The BSE Sensex is at 27,773 (down 6.2%). The top gainers among the BSE Sensex stocks today are POWER GRID (up 1.4%). The most traded stocks in the BSE Sensex are POWER GRID.

In the meantime, NSE Nifty is at 8,099 (down 6.2%). POWER GRID (up 2.1%) and NTPC (up 1.6%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,095 to 27,773, registering a loss of 10,322 points (down 28.91%).

TATA ELXSI Financial Update...

TATA ELXSI net profit stood at Rs 754 million for the quarter ended December 2019, compared to a profit of Rs 660 million a year ago. Net Sales rose 4.0% to Rs 4.2 billion during the period as against Rs 4.1 billion in October-December 2018.

For the year ended March 2018, TATA ELXSI reported 37.3% increase in net profit to Rs 2.4 billion compared to net profit of Rs 1.7 billion during FY17.

Revenue of the company grew 12.0% to Rs 14 billion during FY18.

The current Price to earnings ratio of TATA ELXSI, based on rolling 12 month earnings, stands at 15.2x.

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