India's Tata Elxsi jumps on quarterly profit rise

Tata Elxsi

14/10/2026 05:09

** Shares of Tata Elxsi TTEX.NS rise 7.2% to 3,672.2 rupees
** Stock on track for highest intraday pct gain since January 7
** Engineering R&D firm reported a 10% rise in Q2 profit to 1.7 billion rupees ($17.9 million)
** Overall revenue increased 15% to 10.56 billion rupees
** Morgan Stanley ("Underweight; PT: 3,400 rupees) flags broad-based growth across verticals after many quarters of volatile performance, and healthy deal pipeline, even though conversion is taking time due to delayed decision making
** Ambit ("Sell"; PT: 3,080 rupees) expects margin improvement likely to be more gradual
** Remains cautious at current valuations of 25x FY28 EPS as co continues to face challenges in the automotive/media space and high dependency on JLR 
** Stock rated "Hold" on average by 14 analysts; median PT at 3,358 rupees --LSEG-compiled data
** YTD, stock down ~30%

($1 = 95.0525 Indian rupees)

 (Reporting by Mridula Kumar in Bengaluru)
 ((Mridula.Kumar@thomsonreuters.com;))