The stocks of Tata Elxsi Limited opened their trading hour today at Rs 7,920 and currently trades at Rs 7,820. The scrip witnessed an intra-day high mark of Rs 7,947 indicating a gain of around 3 percent as compared to the previous closing levels of Rs 7,693.05.
In the last one-month period, the stock has gained over 15 percent ranging from Rs 6,779.30 to the current price levels. The company has a market capitalization of Rs 48,687 crores.
The surge in stock prices is observed after a press release by the company announcing that it has partnered with the Indian Space Research Organization (ISRO) for the upcoming ‘Gaganyaan’ Mission.
The mission includes a demonstration of the capability of human spaceflight by way of launching the crew into an orbit of 400 kilometers for a three-day period and safely bringing them back to Earth by landing the same in the Indian sea waters.
The Tata Group company has made the design and developed the Crew Module Recovery Models (CMRM) for the purpose of training the recovery team of the space mission. One of the project’s key requirements where the above-mentioned models will come into play is the safe recovery of the crew with minimum lapse of time.
The models, designed and fabricated by Tata Elxsi, simulate the centre of gravity, mass, outer dimensions, and externals of the actual crew module. The company has also emerged as the preferred partner for other similar ISRO projects.
Tata Elxsi Limited is a company based in India that provides technology as well as design services for sectors such as defense & aerospace, communications, healthcare, etc. It has domestic operations within India, and, apart from that, conducts overseas operations in the European, North American, and Asia-Pacific regions.
The company is fundamentally strong with its current stock being at a discount of around 27 percent from its 52-week high levels.
The latest shareholding data exhibits the Promoters holding a 43.92 percent stake, and Foreign Institutional Investors (FIIs) holding a 13.85 percent stake in the company.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
