Following the company's partnership with the Indian Space Research Organisation (ISRO) for the impending Gaganyaan Mission, shares of Tata Elxsi increased more than 3% to Rs 7,950 on Thursday.
According to a corporate filing with the stock exchange, Tata Elxsi conceived and created the crew module recovery models (CMRM) for the space mission's recovery team training.
The Gaganyaan project by ISRO plans to launch the crew into a 400-kilometer orbit for a three-day trip and land them safely on the ground in Indian sea waters as a demonstration of human spaceflight capability. The crew must be safely recovered with the least amount of delay possible, which is one of the project's primary goals.
The crew recovery models are utilized in this situation. CMRMs created and manufactured by Tata Elxsi replicated the mass, center of gravity, outside dimensions, interfaces, and externals of the genuine crew module for use in recovery team training.
According to the company, "Tata Elxsi completed activities starting from creating a design configuration in line with the initial demands provided by ISRO, to carrying out structural analysis for different load cases, procuring and testing materials, fabricating, performing load tests, and transportation of the CMRM and the Ground Support Fixture (GSF)."
As this was the first time ISRO has contracted an outside party to handle the mechanical design and development work for a crucial system, the project represented Tata Elxsi's entry into the field of space mechanical design. For comparable ISRO projects, Tata Elxsi has also been the go-to partner, it said.
To train the recovery teams, two recovery models (the CMRM and GSF) have been sent to naval training teams in Kochi and Visakhapatnam.
The stock was up 2.1% to Rs 7,853 at 10.41 am on the BSE. The stock has been up more than 24% so far this year, but it has been down more than 8% over the past 12 months. According to Trendlyne statistics, the stock's average target price is Rs 6,80, which represents a 21% decline from the stock's current market price. Tata Elxsi has received a Sell rating from all six analysts.
