Tata Elxsi Ltd said it will hold a meeting on April 23, 2024, to consider financial results for the quarter and year ended March 31, 2024. It may also recommend dividend, if any, for financial year 2023-24 (FY24).
Elxsi is a subsidiary of Tata Sons, holding company of the Tata Group. It provides design and technology services across industries including automotive, broadcast, communications, healthcare and transportation.
The stock was last seen trading 0.47 per cent higher at Rs 7,964.30. At this price, it has slipped 13.35 per cent from its one-year high value of Rs 9,191.10, a level seen on December 18 last year. That said, it was up 31.68 per cent from its 52-week low price of Rs 6,048.35, hit on April 10, 2023.
On technical charts, support on the counter will be at the Rs 7,700-7,500 zone.
"Tata Elxsi has seen a consolidation breakout in the last trading week. The stock underwent consolidation post the steep correction from Rs 9,200 level. For now, the Rs 7,700-7,500 zone is likely to cushion any short-term blip. While any sustainability above Rs 8,000 is expected to trigger a decent leg of rally towards Rs 8,400 in the comparable period," said Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One.
"The counter looks slightly bearish on daily charts with strong resistance at Rs 8,134. A daily close below support of Rs 7,666 could lead to a downward target of Rs 7,337 in the near term," said AR Ramachandran from Tips2trades.
"The stock looked strong on daily charts. It has potential to hit an upside target of Rs 8,250. Keep stop loss placed at Rs 7,750," said Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking.
As of December 2023, promoters held a 43.92 per cent stake in the company.