Reduce Tata Elxsi, target price Rs 4,250: ICICI Securities Jobbery Stock Market update New

ICICI Securities downgrades Tata Elxsi to ‘Reduce’ with a revised target price of Rs 4250, citing muted Q4FY25 results and structural macroeconomic concerns. Despite new large deals and optimism for Q1FY26, revenue contracted by 5.3% QoQ. The brokerage maintains its estimates, tweaking FY26E EPS slightly, while recommending ‘Reduce’ based on a 30x forward PE.