14-Oct-2026 11:56:07
Tata Elxsi Jumps 7% After Q2 Results, but Morgan Stanley and Motilal Oswal Remain Bearish
Tata Elxsi shares surged 7% to ₹3,698 after Q2 FY27 net profit rose 10% YoY to ₹170 crore, while revenue increased 15% to ₹1,056 crore. However, higher employee and operating costs limited profit growth. Morgan Stanley maintained Underweight with a ₹3,400 target, citing rich valuations, while Motilal Oswal reiterated Sell with a ₹2,970 target, implying 13% downside. Both brokerages flagged concerns over European automotive demand and the pace of converting deal wins into revenue.