IT stocks have been in focus. In that space, midcap IT stocks more so and among that, Tata Elxsi has got serious momentum behind it.
In the last four days, the stock is up 13 percent. The stock is at yet another record high. In the last one month, it is up 17 percent and this year has not been too bad for the company.
First half of 2021, the stock was up 131 percent and in the last 12 months, it is up 366 percent so it has nearly quadrupled one’s money.
The stock is currently trading at Rs 4,260 on the NSE. Given the kind of moment that it has, there is lot of delivery-based buying. In the last three trading sessions, average daily delivery has been close to 2-2.50 lakh shares, which is almost 150 percent higher than what we have seen in the last three months itself.
Watch the accompanying video of CNBC-TV18’s Mangalam Maloo for more details.