Tata Elxsi, Red Hat ink pact to boost telco network monetisation; stk up 2%

Tata Elxsi share price rises: Shares of Tata Elxsi soared as much as 1.95 per cent to hit an intraday high of Rs 7,373.75 per share, on Friday.

However, the stocks were trading off highs. At 11:00 AM, shares of Tata Elxsi were trading 0.94 per cent higher at Rs 7,300 per share. In comparison, BSE Sensex was trading 0.12 per cent higher at 76,901.80 levels.

The uptick in share price came after Tata Elxsi announced that it has collaborated with Red Hat, a software company, to monetise applications and reduce operational expenditures through simplifying operations in 5G networks for Telcos and enterprises.