Despite weak market circumstances, Tata Elxsi’s share price enclosed higher through early trade on January 27. At 9:53 am, the stock was recurrent Rs 6,657.50, up Rs 60.70, or 0.92%.

The company reported its earnings for October-December, with net profit rising 28.97% to Rs 194.68 crore from Rs 150.95 crore in December 2021. EBITDA came in at Rs 265.99 crore in the given quarter, up 22.38% from Rs 217.35 crore a year back.

The company has stated EPS of Rs 31.26 for the period ending December 31, 2022, as associated with Rs 27.98 for September 30, 2022.

It reported total revenue of Rs 836.87 crore during the period ended December 31, 2022, as against Rs 641.9244 crore during the period ended December 31, 2021.

Global research and brokerage firm Morgan Stanley has an underweight rating on the stock with a target of Rs 5,800 per share, representing a 14% decline from the current market price.”Embedded Product Design (EPD) business slackened for the fifth straight quarter, pretentious by furloughs and project suspensions, while the explanation on outlook is sensible. Cost normalisation and ESOP costs should keep boundary opportunities in check,” it said.