– Shares of Tata Elxsi Ltd surged 17.72% and settled 16.26% higher at Rs 8,970.35
– The stock gained 26.58% in just two trading days with high trading volume
– Tata Elxsi is a subsidiary of Tata Sons, providing design and technology services across industries
– Holding companies saw strong buying interest recently, leading to the upmove in Tata Elxsi shares
– Technical support seen at Rs 8,600 level, with resistance at Rs 9,100 for further upside
– Analysts recommend caution after the rise and consolidation above Rs 9,100 for the next leg of the rally
– Stock traded higher than various moving averages and had a 14-day RSI of 89.40
– P/E ratio of 61.02, P/B value of 19.18, EPS of 126.45, and RoE of 31.43
– Promoters held a 43.92% stake in the firm as of June 2024