Tata Elxsi shares rise 0.6% as Nifty drops
Tata Elxsi Ltd. traded 0.6 per cent up at Rs 7137.0 on Friday at around 11:31AM (IST), while the benchmark BSE Sensex declined 142.79 points to 74196.65.
As many as 3,523 shares changed hands on the counter with a total value of Rs 2.51 crore.
The stock quoted a 52-week high price of Rs 9191.1 and a 52-week low of Rs 6228.3.
On the technical charts, the 200-DMA of the stock stood at Rs 7755.71, while 50-DMA was at Rs 7641.96. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.
Shares of the company have advanced 13.46 per cent in the past one year, while Sensex has risen 24.01 per cent during the same period.
According to BSE data, the stock trades at a price-to-earnings multiple of 55.75 and a price-to-book ratio of 19.34. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the IT Consulting & Software — Mid Cap industry.
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