TVS Electronics spices up IT index

TVS Electronics is certainly the stock of November 29. The scrips are trading at high volumes and its 30 day SMA stands at 105.64. The scrips on November 28 closed at Rs 146.55, up by 19.98 per cent. The shares of the company as at 9.59 am on November 29 are trading at Rs 161.20, up by 10 per cent.The stock emerged as a largest gainer in S&P IT index. Technology stocks are already favourites in the markets as rupee has weakened further on November 28. The S&P index since Trump’s victory has rallied over 4 per cent as the dollar is trading high, and this outcome is favourable to the Indian IT companies. These companies earn more revenue when rupee depreciates.

The shares of the company in the last three months have surged by 64 per cent. On the other hand, the financials of the company in Q2 are excellent. PAT of TVS Electronic has increased by 60 per cent YoY and stands at Rs 2.16 crore. Net sales of the company in Q2 stands at Rs 721.1 crore, which has increased by 274 per cent as compared with corresponding quarter of the previous fiscal.