This multibagger stock from the IT software sector has delivered 167% returns in a year

Tata Elxsi has posted exceptional Q3 results, stock up by 6.7%

The technology-driven Tata company has generated phenomenal returns for its shareholders in just a year. If you had invested Rs 1 lakh in this company, you would have a total investment of Rs 2.67 lakh after a year.

The company has been buzzing lately for its Q3 results which is the reason why the stock has been trending up in the markets. In the last five trading sessions, the stock has gone from Rs 6,281 to Rs 7,448 as of 20th January 2022, which is a high growth of 18.6%. It has been creating back to back fresh 52-week highs, a scenario much favoured by its shareholders.

This has been the case with Tata Elxsi so far which has posted strong performance throughout the fiscal. For the quarter ended December 2021, its net revenues came in at Rs 635.4 crore which grew by 6.7% on a sequential basis and 33.18% on a YoY basis. Its EBITDA stood at Rs 209 cr which again jumped by 13.8% QoQ and 45.6% YoY. Its profitability crossed the mark of Rs 150 crore for the first time to reach Rs 151 crore which saw a stellar growth of 20.44% QoQ and 43.5% YoY.

Investors were expecting a good Q3 result which is why the stock was trending up before results. However, the results came in better than expected which drove investors’ spirits and the stock hit new 52-week highs.

Tata Elxsi is one of the leading technology companies providing design-led technology services across various industries like transportation, media, communications and healthcare and medical devices. The stock has a 52-week high of Rs 7,525 and a 52-week low of Rs 2,410.25.