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Motilal Oswal Report
Tata Elxsi Ltd. shares are likely to remain in focus after Motilal Oswal Financial Services reiterated its 'Sell' rating on the stock and revised its target price to Rs 3,100 following the company's June quarter earnings.
At the current market price of Rs 3,697, the brokerage's target implies a downside potential of nearly 16%.
The brokerage said Tata Elxsi reported revenue of $108 million in Q1 FY27, registering 1.3% QoQ growth in constant currency terms, broadly in line with expectations.
However, the quarter was marked by weaker-than-expected profitability, with Ebit margin declining 330 basis points sequentially to 19%, well below Motilal Oswal's estimate of 21.5%.
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