Tata Elxsi rises on entering into collaboration with Red Hat
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Tata Elxsi is currently trading at Rs. 7276.95, up by 44.60 points or 0.62% from its previous closing of Rs. 7232.35 on the BSE.
The scrip opened at Rs. 7264.80 and has touched a high and low of Rs. 7373.75 and Rs. 7200.10 respectively. So far 13380 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 9191.10 on 18-Dec-2023 and a 52 week low of Rs. 6406.60 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 7373.75 and Rs. 7060.50 respectively. The current market cap of the company is Rs. 45331.64 crore.
The promoters holding in the company stood at 43.92%, while Institutions and Non-Institutions held 20.61% and 35.47% respectively.
Tata Elxsi has entered into collaboration with Red Hat, the world’s leading provider of enterprise open-source solutions to monetise applications and reduce operational expenditures through simplifying operations in 5G networks for Telcos and enterprises. The collaboration aims to create a use case factory to help global operators monetize their networks using industry specific 5G applications across transportation, manufacturing, healthcare, through proven verticalized applications and joint solutions.
As a case in point, as the automotive industry aggressively pivots towards software-defined vehicles (SDV), there is a growing demand for real time, secure OTA (over-the-air) updates and containerized services through 5G networks. The collaboration enables telcos to address these OEM needs with an integrated solution using TETHER, Tata Elxsi’s globally deployed connected vehicle platform; NEURON, Tata Elxsi’s award-winning network automation platform, Red Hat OpenShift, the industry’s leading hybrid cloud application platform powered by Kubernetes, along with Red Hat In-Vehicle Operating System. This solution will enable OEMs to deploy subscription-based services and platforms for connected vehicles with advanced fleet management features and realtime OTA.
Tata Elxsi is a global design and technology Services Company and works with customers across industries such as automotive, broadcast, healthcare and telecom for product and software development.
