This Indian Tech Stock Has Fetched 850% Return For Investors Since Pandemic Began

Indian design and technology services provider Tata Elxsi has provided more than 160% in return in the past year even as a majority of global markets remained downbeat amid COVID-19 and geopolitical events such as the Russian Invasion of Ukraine.

The rally in the Indian Tata Group-owned stock picked up momentum at a time when COVID-19 hit India hard, and the country went into elongated lockdowns. The stock has since fetched a whopping 854.87% return — jumping from INR 924 on March 11 when the U.N. World Health Organization declared COVID-19 outbreak a pandemic to INR 7,899 on Wednesday.

See Also: This Indian Billionaire Outperformed Elon Musk Last Year In Wealth Growth — Now, His Companies Are Also Fetching Multibagger Returns For Investors In 2022

Tata Elxsi has a total market cap of $6.5 Billion (₹49,585 crores) and is among the 17 Tata Group companies listed on the Indian exchanges other than Tata Motors Limited ADR TTM, which is listed on NYSE and Indian stock exchanges as well.

Company In News: The company on Wednesday posted a 39% jump in its net profit in the fourth quarter ended March 31.

Manoj Raghavan, Tata Elxsi CEO and Managing Director said in a statement, "This has been the strongest year of growth in the company's history and an all-around performance across business units, industries, and geographies. Our Transportation business is now on a path of accelerated growth, with our differentiated EV, Autonomous, Connected and Digital capabilities powering large deal wins."

Tata Elxsi rivals the likes of Wipro Ltd WIT and Infosys Ltd ADR INFY.