Prabhudas Lilladher Changes Tata Elxsi Rating to Hold, Sets Rs 5010 Target

• Prabhudas Lilladher recommends 'Hold' on Tata Elxsi with a target price of Rs 5010.
• The rating was upgraded from 'Reduce' to 'Hold' due to a significant stock price correction.
• CFO interaction revealed progress in automotive and structural recovery, with R&D budgets prioritizing cost improvement.
• Client sentiment has recovered, and decision-making cycles have progressed, with a focus on software optimization and time-to-market.
• Tata Elxsi secured engagements in the Chinese market, with deal terms remaining consistent despite no major breakthroughs.

Why It Matters: Tata Elxsi's rating changed to HOLD, affecting investment decisions.