Tata Elxsi To Test Driverless Autonomous Car
By MEHER ONISA : 18-Jan-2017
BANGALURU: Miraculously, the shares of Tata Elxsi on BSE has reported to shoot to a profitable point of 6.50 % on the early trade day of Wednesday following the news that the company was on its track to take a patch test on driverless car models that will begin to accelerate on the bounteous roads of Bangalore.
All the chief automobile manufacturers as well as technology firms in the Silicon Valley are prioritizing on the concept of autonomous vehicles. Companies like Apple, Google, Uber and Tesla have also entered into testing technologies for building a prototyping module of driverless car that would discard the heritage old human-driven cars by 2025.
Tata Elxsi is closely integrated with the carmakers and along with the component suppliers for leveraging itself.
TATA ELXSI STOCKS ROCKS THE SENSEX:
The benchmark BSE Sensex was trading 171.40 points or 0.63 per cent today.
In the first earliest trading hour of today, Tata Elxsi stock scrip opened at Rs 1,452.50 and jumped to Rs 1,512.
Edelweiss Financial Services BSE 0.50 % made a buy call to Tata Elxsi with an intra-day target tariff of Rs 1,520 while stopping loss at Rs 1,380.
For the quarter that ended on September 30, 2016, the company recorded rafting revenue of Rs 303.29 crore, up 15% from Rs 263.66 crore.
The NPV, Net profit value of the Tata Elxsi took a jet with 13% on a year-on-year basis to Rs 43.08 crore during the quarter.
Tata Elxsi declared a net profit of Rs 38.10 crore for the corresponding quarter of 2016.
On January 25, Tata Elxsi is going to announce the financial results for the quarter that ended in December 31, 2016.