BUZZ — India's Tata Elxsi jumps on quarterly profit rise

* Shares of Tata Elxsi rise 7.2% to 3,672.2 rupees * Stock on track for highest intraday pct gain since January 7 * Engineering R&D firm reported a 10% rise in Q2 profit to 1.7 billion rupees ($17.9 million) * Overall revenue increased 15% to 10.56 billion rupees * Morgan Stanley ("Underweight; PT: 3,400 rupees) flags broad-based growth across verticals after many quarters of volatile performance, and healthy deal pipeline, even though conversion is taking time due to delayed decision making * Ambit ("Sell"; PT: 3,080 rupees) expects margin improvement likely to be more gradual * Remains cautious at current valuations of 25x FY28 EPS as co continues to face challenges in the automotive/media space and high dependency on JLR * Stock rated "Hold" on average by 14 analysts; median PT at 3,358 rupees --LSEG-compiled data * YTD, stock down ~30% ($1 = 95.0525 Indian rupees) (Reporting by Mridula Kumar in Bengaluru) ((mailto:Mridula.Kumar@thomsonreuters.com;)