Tata Elxsi, Suzuki open joint development centre; shares rise 

Shares of Tata Elxsi rose over 3% on Monday after the Tata Group firm said it along with Suzuki Motor Corporation, a Japanese multinational mobility manufacturer inaugurated the ‘Suzuki-Tata Elxsi Offshore Development Center’ in Pune, India. 

Tata Elxsi stock gained 3.13% to Rs 6565.90 on BSE today against the previous close of Rs 6366.60. The stock is oversold on charts with a RSI of 29.1. The large cap stock hit a 52-week low of Rs 6285.05 in the current session. The Tata Group stock is trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

However, this year, the Tata Elxsi stock is down 26%. 

The stock touched a 52 week high of Rs 9191.10 on December 18, 2023. The stock opened higher at Rs 6419.95 on BSE today. Total 9787 shares of the firm changed hands amounting to a turnover of Rs 6.29 crore on BSE.

Tata Elxsi stock has a one-year beta of 0.7, indicating very low volatility during the period.

"This dedicated center will drive Suzuki’s innovations in advanced engineering, shaping the future of mobility. Tata Elxsi will support Suzuki in its green mobility vision by aligning with Suzuki’s goals for sustainable innovation in lightweight design, safety, styling and engineering, eco-friendly materials, and advanced simulations to improve time-to-market. The partnership will also focus on next-generation powertrains and software-defined vehicles, fostering energy-efficient solutions for electric, hybrid, and alternative fuel vehicles," said the firm in a communication to bourses. 

Tata 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 company aims to help customers reimagine their products and services through design thinking and the application of digital technologies such as IoT (Internet of Things), cloud, mobility, virtual reality and artificial intelligence.