– Shares of Tata Elxsi Ltd surged 17.72% in two trading days, settling 16.26% higher on Tuesday
– The stock hit an intraday high of Rs 9,082.90 and eventually settled at Rs 8,970.35
– High trading volume of 4.81 lakh shares changed hands with turnover at Rs 407.02 crore
– Tata Elxsi is a subsidiary of Tata Sons, providing design and technology services across industries
– Technical setup shows support at Rs 8,600 level and resistance at Rs 9,100
– Analysts advise caution and consolidation above Rs 9,100 for further upside
– Stock traded higher than moving averages and 14-day RSI at 89.40, indicating overbought conditions
– P/E ratio at 61.02, P/B value at 19.18, EPS at 126.45, RoE at 31.43
– Promoters hold 43.92% stake in the firm as of June 2024.