Indian design and technology services provider Tata Elxsi has provided more than 160% in return in the past year even as a majority of global markets remained downbeat amid COVID-19 and geopolitical events such as the Russian Invasion of Ukraine.
The rally in the Indian Tata Group-owned stock picked up momentum at a time when COVID-19 hit India hard, and the country went into elongated lockdowns. The stock has since fetched a whopping 854.87% return — jumping from INR 924 on March 11 when the U.N. World Health Organization declared COVID-19 outbreak a pandemic to INR 7,899 on Wednesday.
