Tata Alexi shares hit record high in early deals on Monday 9,630 each on BSE. Tata Group stock has outperformed by rallying over 61 per cent in 2022 (YTD) so far in comparison to a nearly one per cent fall in the benchmark BSE Sensex.
The IT company’s profit and revenue has climbed big deals thanks to cloud-based platforms and artificial intelligence used to improve products and customer experience.
Tata Elxsi’s revenue from operations up 30% year-on-year (YoY) 725.9 crore for the first quarter ended June 2022, and its net profit jumped over 63% from the year-ago quarter 184.7 crores. Its Chief Executive Officer (CEO) Manoj Raghavan had said that Tata Alexi’s orders remained strong despite warning signs in the global economy.
The Tata Group firm’s Q1FY23 EBITDA margin of 32.8% (+30 bps QoQ) was a firm beat on analysts’ estimates, despite senior employees’ salary hikes during the quarter.
The company’s management has said that in case of slowdown and budget cuts, the impact on Tata Alexi is likely to be less than that of the industry as the company operates at competitive rates enabled by its high offshore presence and important strategic client projects, which But it was working. “We expect Tata Alexi to grow at 24%/15.3% in FY23E/FY24E, which will be higher than the industry growth rate,” ICICI Securities said in a note last month.
In addition, strong demand for specialized design services to be used in making electric vehicles (EVs) has helped multibagger stock Growth has picked up this year, even as inflation concerns have battered the sector globally.
Bangalore-based IT company Tata Alexi, part of the Indian conglomerate Tata Group, is one of the world’s leading providers of design and technology services across industries including automotive, broadcast, communications and healthcare. Shares of Tata Alexi Has given multibagger returns of more than 123% in a period of one year.
Tata Alexi plans to hire 3,000 to 3500 freshers and 1,000 to 1,500 laterals for FY13. In contrast, several global companies such as Google and Microsoft have indicated their intention to hold off on hiring. During the first quarter of the current financial year, Tata Alexi crossed the 10,000 employee mark with 771 net additions in the quarter.
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