Buy Tata Elxsi, target price Rs 2800: IIFL

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Buy Tata Elxsi, target price Rs 2800:  IIFL


IIFL has buy call on Tata Elxsi with a target price of Rs 2800. The current market price of Tata Elxsi is Rs 2585.95.

Tata Elxsi Ltd., incorporated in the year 1989, is a Mid Cap company (having a market cap of Rs 16054.87 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-12-2020, the company reported a Standalone sales of Rs 477.10 Crore, up 10.91 % from last quarter Sales of Rs 430.18 Crore and up 12.67 % from last year same quarter Sales of Rs 423.44 Crore Company reported net profit after tax of Rs 105.20 Crore in latest quarter.

Investment Rationale
Stock is on the verge of giving a flag pattern breakout on the hourly chart





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