Tata Elxsi stock gains on collaboration with Red Hat to accelerate network monetisation for telcos

So far this year, Tata Elxsi stock has plunged 16 percent, underperforming Nifty 50 which has risen 26 percent during this period.

Shares of Tata Elxsi gained around 2 percent on June 14 after the company announced its collaboration with Red Hat, the world’s leading provider of enterprise open-source solutions to monetise applications and reduce operational expenditures through simplifying operations in 5G networks for telcos and enterprises.

The two entities will work together on 5G connected car using Tata Elxsi CVP platform TETHER, and Red Hat In-Vehicle OS to make moving applications in 5G multi-cloud environment for telcos and MVNOs (mobile virtual network operators).

"The partnership aims to leverage OpenShift, Red Hat's container platform, as a common and uniform container-as-a-service (CaaS) layer across multi-cloud environments and Neuron as Tata Elxsi Multi-layer Automation Platform enabling seamless cloud automation, 5G Application placement and modernisation," Tata Elxsi said in a statement.

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Tata Elxsi is a design and technology services company that provides design-led digital engineering, technology development, testing, and systems integration services.

Its solution Neuron streamlines the lifecycle management of network elements, offers end-to-end orchestration for network deployments, leverages AI-powered observability for proactive monitoring, and automates tasks for streamlined and secure network operations.

At 10:58 am on June 14, Tata Elxsi shares were trading 1 percent higher at Rs 7,302.90 apiece on the National Stock Exchange (NSE). So far this year, the stock has plunged 16 percent, underperforming Nifty 50 which has risen 26 percent during this period.

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