27 June 2024: Tata Elxsi's shares fell 2.64% to Rs 6930.45 despite a 2.3% revenue increase to Rs 926.

Tata Elxsi's shares fell 2.64% to Rs 6930.45 on 27 June 2024, despite a 2.3% revenue increase to Rs 926.5 crore. Net profit declined 3% YoY to Rs 184.1 crore in the first quarter ending June 30, 2024, primarily due to softness in media and communication vertical and healthcare vertical. Analysts at InCred Equities and Kotak Institutional Equities maintain "Reduce" ratings with target prices of Rs 6,064 and Rs 5,500, respectively.