Published on 11/01/2018 1:21:01 PM | Source: Reliance Securities Ltd

Buy Tata Elxsi Ltd For Target Rs.1,180.00 - Reliance Sec

Posted in Broking Firm Views - Short Term Report| #IT Sector #Tata Elxsi Ltd. #Trading Report #Reliance Securities Ltd


* Tata Elxsi’s (TEL) stock rose 3.6% in yesterday’s trade, while the BSE Sensex was flat.

* The addressable size of the ER&D industry will cross US$300bn, while offshore ER&D spend will clock 9% CAGR, with TEL likely to grow at a much faster pace.

* TEL’s presence in specialised verticals like Automotive and Broadcast will be key growth drivers, going forward.

* TEL’s core strengths lie in high growth solutions like IoT, Robotics, Automation, Mobility, VR/AR Digital Experience, Cloud and AI platforms.

* TEL counts names like BMW, Mercedes-Benz, JLR and Tata Motors as clients. TEL has presence across the value chain of Broadcast & Media vertical and counts clients from different segments of broadcast ecosystem

* We expect TEL’s PAT to clock 16.2% CAGR over the period FY18E-FY20E

* We have a BUY rating on TEL and Target Price of Rs1,180.


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