Tata Elxsi share price shed 5 percent intraday on October 28. The company announced the opening of a Global Engineering Center (GEC) with Aesculap AG, a subsidiary of B. Braun, one of the world's leading manufacturers of medical devices and pharmaceutical products and services.
Tata Elxsi has been selected as the global engineering services partner by Aesculap.
The GEC is part of a strategic multi-year engagement in the field of engineering services.
"We are elated to be selected as a strategic partner of Aesculap. It is an absolute honor for us to be part of this journey in supporting Aesculap through our Global Engineering Center, bringing together integrated competencies in R&D and innovation, digital technologies, deep domain understanding of medical devices and ever-evolving regulatory standards," said Nitin Pai, Chief Strategy Officer and CMO, Tata Elxsi.
"This further consolidates our position in the Medical Devices and Healthcare market in Europe, and strengthens our relationship with Aesculap and the B. Braun group," he added.
At 11:59 hrs, Tata Elxsi was quoting at Rs 1,591.20, down Rs 67.20, or 4.05 percent on the BSE.The share price surged over 100 percent in last 1 year.