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Buy Tata Elxsi: target of Rs 4500: Sharekhan

Sharekhan is bullish on Tata Elxsi has recommended buy rating on the stock with a target price of Rs 4500 in its research report dated June 25, 2021.

June 28, 2021 / 12:47 PM IST
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Sharekhan's research report on Tata Elxsi

Company stated that increased hyper-digitisation and technology adoption across industries would open up growth avenues as it is well-placed to leverage given its strong capabilities. Reports estimate global ER&D spends to grow at CAGR of 11% over 2020-2023 to $ 1.9 trillion. Digital engineering to ER&D spend is likely to reach at 47% in 2023 from 36% in 2020. TEL’s USD revenue and earnings are set to post a CAGR of 26% and 29%, respectively, over FY2021-FY2023E. We prefer TEL, given its strong balance sheet, improving cash generation and consistent dividends.


We retain a Buy on Tata Elxsi Limited with a revised PT of Rs. 4,500, led by shift of ER&D budgets towards digital engineering, superior margins and differentiated technological capabilities.

For all recommendations report, click here

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first published: Jun 28, 2021 12:47 pm