Shares of Tata Elxsi tumbled as much as 7% to their day’s low of Rs 3,558 on the BSE on Wednesday after competitor KPIT Tech issued a preliminary business update indicating that its financial performance for the first quarter of FY27 will fall short of earlier expectations following a sudden drop in revenue in recent weeks.
The company said it expects its Q1FY27 reported revenue in U.S. dollar terms to decline by around 1% year-on-year compared with Q1FY26. The decline has been primarily attributed to sudden actions by some European original equipment manufacturers (OEMs) following their recent profit warnings and adverse business outlook.
