Multibagger Stock: After IT stock crash following weak Infosys results, Tata Alexi share price rebounded strongly ahead of its Q4FY22 results as the market was expecting strong Tata Alexi results on Wednesday. However, the Tata Group IT firm reported better-than-expected fourth quarter results, triggering fresh buying in Tata Alexi shares in morning deals. after closing On Tuesday, the level of Rs 7600 per share on NSE, the share price of Tata Alexi rose till today 8190 each level, a decline of about 7.75 percent in two straight sessions.
According to stock market experts, tata lexi share price This can be attributed to the strong Tata Alexei Q4 results, which are better than expected by Dalal Street observers. Experts said after weak Infosys results, there was selling pressure in IT stocks, including Tata Alexi stock. So, when Tata Group IT company reported better than anticipated results, bulls are pumping money into Multibagger stock, which is available at a discounted price due to the recent selloff in IT stocks.
Speaking on the reason for the share price rally of Tata Alexi; Ravi Singhal, Vice Chairman, GCL Securities said, “Tata Alexi has reported better-than-expected fourth quarter results which has acted as a major trigger for the IT stock of the Tata Group. Tata Alexi has reported its annual net profit. It has registered the highest ever annual growth with full year operating revenue growth of over 35 per cent, PAT (Profit After Tax) growth of around 49 per cent.
Resonating with the thoughts of Ravi Singhal; Santosh Meena, Head of Research, Swastika Investmart Ltd. said, “The management commentary for the future has been positive and the company has won multi-year, multi-million deals in areas such as cloud engineering, EV system development. Tata Alexi was selected by a leading German Tier 1 supplier to set up an offshore development center for autonomous driving and ADAS technologies and selected by a leading European commercial vehicle manufacturer to establish and set up a Virtual Reality Innovation Center. Shares due to the above factors Q4 FY22 The results are rising after.”
Santosh Meena further said that Tata Alexi shares are one of the strongest IT counters as it is bouncing back from its strong demand zone. from 7500 Selling took place at 7700 level after Infosys results.
Due to strong results of Tata Alexi; Rahul Sharma, Research Head, Equity99 said, “The company’s numbers were driven by impressive growth in Embedded Product Design which grew 34.7% per cent (YoY).” He said that the company’s board had also recommended dividend. 42.50 per share, “we expect the up-move in this counter to continue post its Q4 numbers in the coming days.”
Ravi Singhal of GCL Securities said, “People who have shares of Tata Alexi in their portfolio can hold the counter even further as the stock may go up. 9200 level in 3 months. it is facing small hurdle from 8400 8500 level, which is enough to break the current market sentiment. The counter can be held while maintaining the stop loss 7700 each level.”
Tata Alexi shares are one of the multibagger stocks in 2021 as it has given nearly 160 per cent to its shareholders in the past one year. Over this period, the stock has jumped from almost 3,000 per share level to 8000 each level.
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