Tata Elxsi: stock update

 Tata Elxsi: stock update

Tata Elxsi Limited (TEL) impressed once again with continued beat in revenue and operating profitability. The company reported constant currency (CC) revenue growth of 9.1% q-o-q/15.2% y-o-y, ahead of our estimates, led by strong 5.5% q-o-q/12.5% y-o-y and 40.2% q-o-q/36.3% y-o-y growth in embedded product design (EPD) and industrial design and visualisation (IDV) businesses.

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