Tata Elxsi shares trim most of its early gains; close nearly 1 pc higher

On NSE, it closed with a gain of 0.61 per cent at Rs 1,468 after rising 5.19 per cent to its one-year high of Rs 1,534.95 during the day. Tata Elxsi on Wednesday reported a 58.3 per cent increase in net profit to Rs 78.8 crore for the September 2020 quarter.

Shares of design and technology services provider Tata Elxsi on Thursday trimmed most of its early gains and closed the day nearly 1 per cent higher. In early trade, the stock rose over 5 per cent on the bourses after the company reported a 58.3 per cent increase in net profit for the September quarter.

The stock, which gained 5.25 per cent to Rs 1,533.55 -- its 52-week high -- on BSE during the day, later gave up most of its gain and closed at Rs 1,463.85, up 0.47 per cent. On NSE, it closed with a gain of 0.61 per cent at Rs 1,468 after rising 5.19 per cent to its one-year high of Rs 1,534.95 during the day.

Tata Elxsi on Wednesday reported a 58.3 per cent increase in net profit to Rs 78.8 crore for the September 2020 quarter. The company had registered a net profit of Rs 49.8 crore in the year-ago period, Tata Elxsi said in a regulatory filing. Its revenue from operations rose 11.5 per cent to Rs 430.2 crore for the said quarter from Rs 385.8 crore in the corresponding period a year ago.