Multibagger Bearing: Stock market trembles on budget, but Tata Group giant Tata Elxsi (Tata Elxsi) gives investors strong returns. Tata Elxsi shares are up more than four percent this week BSE Sensex Weakened by more than two percent. Even today the Sensex is down 1.45 per cent but Tata Elxsi is up 0.99 per cent to Rs 6662.10 (Tata Elxsi share price) but is closed. In the long run, it has made him a millionaire with less money to invest. Market experts see further uptrends here and 33% profit can be made by investing at the current price. Its market capitalization is Rs 41,489.19 crore.
Tata Elxsi became a millionaire with an investment of 63,000
Tata Elxsi shares were available on January 23, 2009 at Rs 41.30. Now it has reached the price of Rs 6662.10 with a jump of 16031 percent. This means that in 14 years, Tata Elxsi has turned investors into millionaires with an investment of just Rs 63,000. Now it is showing even more uptrend and its shares are available at a discount of about 38 percent. Last year on August 17, 2022, it hit a record high of Rs 10,760.40.
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Now investment advice to target Rs 8884
Tata Elxsi surpassed the $100 million revenue milestone for the first time in the December quarter of 2022, supported by its automotive and design digital businesses. The company posted revenue of Rs 817.7 crore from October to December 2022, which was up 7.2 percent on a quarterly basis and 28.7 percent on an annual basis. On the other hand, in terms of profits, the company posted a net profit of Rs.197.7 crore in the December quarter of 2022, up 29 percent year-on-year. Domestic brokerage firm KRChoksey expects its verticals to attract more business and new clients from new regions. The brokerage firm has set a target of Rs 8884 per share to invest in and has kept a Buy rating on the stock.
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