Tata Elxsi extends rally to rise 15% in five sessions but Kotak has a Sell

Saurabh Mukherjea-led Marcellus Investment Managers recently exited Tata Elxsi, which was a part of the firm's Rising Giants PMS portfolio.

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26 Aug, 2025 12:21

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Tata Elxsi shares continue their upward march, scaling fresh highs, adding another five percent on August 30 to take the gains to 15 percent in five sessions, riding on the heavy trading volumes in the counter.

At 10.45 am, shares of the technology company were trading at Rs 8,201 on the NSE. With the sharp surge in the stock, its market capitalisation also swelled to Rs 51,073 crore.

As much as eight lakh shares of Tata Elxsi changed hands on the exchanges in early trade on Friday, compared to the one-month daily traded average of six lakh shares.

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Commenting on the rally, Kotak Institutional Equities said, "Tata Elxsi's stock was expensive even before the rally. We believe that Tata Elxsi's revenue growth would improve through the rest of FY2025E, as large OEM engagements ramp up."

"However, challenges in the rest of the portfolio persist: weak spending in the media and communications vertical and middling presence in healthcare, along with deferrals by large clients." Kotak said, retaining its "Sell" on the firm, with an unchanged target price of Rs 5,500 per share, a downside of around 40 percent.

Saurabh Mukherjea-led Marcellus Investment Managers had recently exited Tata Elxsi, which was a part of its Rising Giants PMS portfolio. The fund house attributed the exit largely to expectations of better internal rate of return from new additions - Escorts Kubota, Coforge and CMS Info Systems.

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