Tata Elxsi surges on signing MoU with Garuda Aerospace
Tata Elxsi is currently trading at Rs. 6158.70, up by 40.80 points or 0.67% from its previous closing of Rs. 6117.90 on the BSE.
The scrip opened at Rs. 6116.70 and has touched a high and low of Rs. 6170.95 and Rs. 6028.80 respectively. So far 14539 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 9082.90 on 27-Aug-2024 and a 52 week low of Rs. 5924.00 on 10-Jan-2025.
Last one week high and low of the scrip stood at Rs. 6475.90 and Rs. 6028.80 respectively. The current market cap of the company is Rs. 38186.07 crore.
The promoters holding in the company stood at 43.91%, while Institutions and Non-Institutions held 20.78% and 35.31% respectively.
Tata Elxsi and Garuda Aerospace have signed a Memorandum of Understanding (MoU) at Aero India 2025, for a dedicated UAV design, engineering, and certification center to develop indigenous drone technologies specifically for Indian defence applications, along with agriculture, and smart cities, supporting the ‘Make in India’ initiative.
The company will lead the design, development, testing, and certification of UAV subsystems, leveraging its expertise in avionics, miniaturisation, ground control systems, secured communication, and energy optimisation. Its proven capabilities in avionics certification, including compliance with DO-254 and DO-178C standards.
Garuda Aerospace, as an OEM with a strong presence in defence and other sectors, will lead business acquisition and delivery. The drones developed under this initiative will cater to multiple applications such as payload management, goods delivery, precision agriculture, and ISR (Intelligence, Surveillance, and Reconnaissance) missions, addressing critical operational needs across industries.
The Indian defence forces and Border Security Force are expected to be key beneficiaries of this collaboration, gaining access to cutting-edge UAV capabilities.
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.
