The shares of top design and technology services providers increased by up to 3% after the business announced a partnership with AccuKnox for 5G Managed security services for operators.
With a market capitalization of Rs 49,033.36 core, the shares of Tata Elxsi Ltd were trading at Rs 7,873.50 per share, increasing around 1.11 percent as compared to the previous closing price of Rs 7,787.30 apiece.
According to the company filing, Tata Elxsi Ltd, through its NEURON product suite, has announced a partnership with AccuKnox, the developer of NIMBUS, a state-of-the-art cloud-native security solution, for 5G Managed security services for operators.
Furthermore, This cooperation represents a significant step forward in network transformation and security, providing operators with a comprehensive solution for designing and safeguarding autonomous networks.
Moreover, NEURON, an award-winning telco automation platform, offers a suite of transformation products to help operators build autonomous networks. NIMBUS identifies network and host security policies through environment profiling.
Additionally, The combination of NEURON and NIMBUS enables operators to deploy and protect cloud-native applications effortlessly.
According to the company’s financials, sales climbed by 11% from Rs. 818 crores in Q3FY23 to Rs. 914 crores in Q3FY24. During the same time frame, Net Profit grew by 6% from Rs 195 crores to Rs 206 crores.
Recently, Tata Elxsi signed a MoU for the joint development of an Automotive Cyber Security Solution together with the Indian Institute of Science (IISc).
When it comes to revenue from the geographic segment, the company’s revenue in India increased by 33%, from Rs 393.07 crore in FY2021–22 to Rs 521.54 crore in FY2022–23, while revenue from outside of India increased by 26 percent from Rs 2,077.71 crore in FY2021-22 to Rs 2,623.15 crore in FY2022-23.
Tata Elxsi offers complete services ranging from research and strategy to electronics and mechanical design, software development, validation, and deployment, all backed by a global network of design studios, development centers, and offices.
Written by:- Abhishek Singh
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