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Buy Tata Elxsi: target of Rs 3100: Sharekhan

Sharekhan is bullish on Tata Elxsi has recommended buy rating on the stock with a target price of Rs 3100 in its research report dated March 23, 2021.

March 24, 2021 / 03:43 PM IST
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Sharekhan's research report on Tata Elxsi

TEL is well placed to capture increasing R&D spends in automotive (one of the largest spenders on R&D), broadcasting and communication (smart, connected homes, and OTT), and medical devices (remote healthcare). Given improving demand environment, ramp-up of recent deal wins, and healthy deal pipeline, TEL is expected to deliver revenue growth in the top quartile of industry-level growth in the coming years. TEL has successfully reduced its revenue concentration by increasing revenue contribution from non-automotive verticals and adjacencies. With investments on sales and marketing, delivery, and capabilities, the company has sharpened its focus on large multi-year deals against project-based engagements earlier.


We stick to our Buy rating on Tata Elxsi Limited (TEL) with a revised PT of Rs. 3,100, given industry tailwinds, strong growth potential, and superior margin profile.

For all recommendations report, click here

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first published: Mar 24, 2021 03:43 pm

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