The purchase of shares of Tata Elxsi, the IT company of the Tata group, has increased. The share price of Tata Elxsi has increased by Rs 600 in just two trading days. Meanwhile, experts say that the share price of Tata Elxsi will cross Rs 9,000 in the next three months.
How much is the share price: On Thursday, the share price of Tata Elxsi reached the level of Rs 8190 on the BSE index. In just two trading days, the share price has risen by about Rs 600 or 7.75 percent. Let us tell you that the stock touched the level of Rs 9,420 on March 13, which is the highest level of 52 weeks.
What is the estimate: According to Ravi Singhal of GCL Securities, the share price of Tata Elxsi can go up to the level of Rs 9200 in 3 months. Ravi Singhal advises that those who have Tata Elexi shares in their portfolio can go ahead. Singhal has fixed a stop loss of Rs 7700 for the stock.
Reasons for sudden price hike: Why is the stock price rising in the last two days? To this, Ravi Singhal said, “Tata Alexi has released better than expected fourth quarter results. This has acted as a major trigger for this IT stock of Tata group. Tata Aleksey has reported nearly 40 per cent in its annual net profit. There has been a jump of about 49 per cent in profit after tax.
Experts said after the weak results of IT giant Infosys, there was selling pressure in IT stocks, including Tata Alexi stock. However, now buying has increased in this multibagger stock.
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Similarly, Santosh Meena, Research Head, Swastika Investmart Ltd. said that the management statement for the future is positive and the company has won deals in areas such as cloud engineering, EV system development. Santosh Meena further said that Tata Alexi shares are one of the strongest IT stocks.