Share Market: The sales numbers from automobile companies indicate a surging demand for electric vehicles. Market experts validate this trend, forecasting a promising future for EVs. Given this high demand, companies operating in the electric vehicle sector stand to reap significant benefits.
Amid several entities in the stock market contributing to the electric vehicle cause, two major companies are in the limelight: Tata Elxsi and KPIT Technologies. Both are renowned for developing software for vehicles, especially electric ones. Their stock prices have been skyrocketing, reflecting their success and market confidence.
KPIT Technologies Share: A Market Marvel
Experts believe KPIT Technologies holds potential for continued growth. Specializing in digital engineering, software solutions, and electric vehicle technology, the company has made significant investments in the battery segment. On March 27, 2020, the company’s share price hovered around INR 36. However, by October 13, it escalated above INR 1200, yielding a return of approximately 3200 percent. Prominent brokerage firm Goldman Sachs recommends buying its shares and has revised its target price from INR 1270 to INR 1420. Additionally, the company’s Q2 results are eagerly awaited and are set to be announced on October 30.
Tata Elxsi Share: A Stellar Performer
A subsidiary of the Tata Group, Tata Elxsi has rewarded its shareholders with substantial profits. The company offers services in the realms of the Internet of Things (IoT), cloud computing, mobility, virtual reality, and artificial intelligence. Its significant contribution to the development of software for electric vehicles can’t be ignored. Moreover, Tata Elxsi operates across sectors such as media and healthcare. The company boasts a global presence, conducting business across over 35 locations in 15 countries.
On March 27, 2020, Tata Elxsi’s share price stood at INR 640, which eventually soared to INR 10,000. This represents a profit of more than 1100 percent. In terms of price, it’s the most expensive share within the Tata Group. Although its face value is INR 10, there’s anticipation of a share split in the future. The company’s shares closed at INR 7,450 on the previous Friday, with Q2 results slated to be unveiled on October 17.
Electric vehicle boom is more than just a temporary phase. It’s the onset of a new automotive era. Companies like Tata Elxsi and KPIT Technologies, with their innovative solutions and relentless drive, are at the forefront of this revolution. Their surging share prices are a testament to their significance in this rapidly evolving market.
