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Tata Elxsi shares jump 7% after Q2 results despite broker caution

Original: tata elxsi share price

Tata Elxsi shares rose about 7% after the company reported its second-quarter results, standing out in a mixed day for Indian markets alongside ICICI Prudential Life and Hero Motors. Despite the rally, Morgan Stanley and Motilal Oswal both reiterated bearish calls on the stock, warning investors against reading too much into the quarter. The gap between the price jump and broker scepticism is drawing attention.

Why now: Investors are reacting to the contrast between a strong post-results share rally and continued bearish calls from major brokerages.

Tata ElxsiMorgan StanleyMotilal OswalICICI Prudential LifeHero Motors

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Evidence

• Tata Elxsi shares jump 7% after Q2 results, but Morgan Stanley, Motilal Oswal reiterate bearish calls · The Economic Times
• Q2 Results 13th Oct Live: Q2 Results Today Highlights: Tata Elxsi, ICICI Pru Life, Hero Motors shares trade mixed; PNB Gilts jumps 8% · BusinessLine

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