Press "Enter" to skip to content

Buy Tata Elxsi: target of Rs 9000: Sharekhan – Moneycontrol

Sharekhan is bullish on Tata Elxsi has recommended buy rating on the stock with a target price of Rs 9000 in its research report dated April 21, 2022.

Broker Research

April 22, 2022 / 11:06 PM IST

Sharekhan’s research report on Tata Elxsi

Q4FY22 was yet another quarter of strong revenue growth led by ramp-up of deals, while margins were in line with hopes; quarter saw healthy net hiring, strong deal intake across verticals, expansion into new geographies and good client mining. The company entered new geographies such as Middle East, Africa and Latin America, where it saw strong customer addition especially in media segment. TEL is well placed to deliver another year of strong growth in FY2023E, given strong order intake, traction for large deal conversation and increasing spends in digital engineering.


We retain a Buy on Tata Elxsi Limited (TEL) with a revised PT of Rs. 9,000, given its market share gains, superior margin profile, and presence in fast growing ERD market. We expect USD revenue/earnings to report a 23%/20% CAGR over FY2022-FY2024E.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Broker Research