2 High Dividend Paying IT Stocks That Rahul Gandhi Owns, Should You Buy Too?

Former Congress President Rahul Gandhi announced his assets worth more than 20 crore in his election affidavit filed on Thursday. The affidavit filed with Election Commission of India (ECI) divulged that the 53-year old Congress MP from Wayanad owns shares in 25 listed companies that may include blue chip stocks The total worth of Gandhi's stock holding reportedly exceeds Rs 4.33. Two of the attractive stocks that Rahul Gandhi owns are from IT Software sector.

These two stocks are TCS and Infosys Ltd. The current market price of Tata Consultancy Services Ltd share on BSE is Rs 4003.05 per share while the current market price of Infosys Ltd share on BSE is Rs 1486.60 per share. Both these stocks offered attractive return in last 5 years and maintain attractive dividend history. Check more details about these two leading IT stocks below:

1. TCS Share Performance & Return: The 52-week high price of Tata Consultancy Services shares on BSE is Rs 4254.45 apiece and 52-week low price is Rs 3070.30 per share, respectively. The company's market capitalisation stands at Rs 14,35,928.48 crore. Tata Consultancy Services shares surged 2.13% in last 1-week, declined 2.83% in last 1-month, soared over 8% in last 3-months, and offered return of 25% in last 3-years. The scrip surged 97% in last 5-years and gave maximum return of 271% in last 10-years.

TCS Will Consider Dividend, Results: TCS on March 29 disclosed through its exchange filing about the upcoming meeting of Board of Directors scheduled to be held on April 12, 2024. As per the filing, TCS is expected approve and take on record audited consolidated financial results and its subsidiaries under Ind AS for the year ending March 31, 2024. TCS will also recommend a final dividend, if any, on the equity shares of the Company for the financial year ending March 31, 2024, for the approval of the shareholders at the ensuing 29th Annual General Meeting.

UBS Upgrades Target Price: UBS has also assigned buy call and upgraded target price of TCS shares from Rs 4050 to now 4700. UBS commented, "We believe the market is not completely taking into account the impact of the ramp-up in large deals. Furthermore, we think the potential demand recovery in FY25E will positively surprise the market which it is not currently priced in."

CLSA Upgrades TCS From Sell To Underperform: CLSA has opted to upgrade Tata Group IT Software stock, Tata Consultancy Services Ltd shares from "sell" rating to "underperform" now. The brokerage house has increased the target price of TCS shares from earlier Rs 3925 per share to Rs 4043 per share. According to the analyst, "We expect TCS among large Indian IT firms to top the charts in terms of constant currency sequential growth."

TCS Maintains Attractive Dividend History: The company has been maintaining an attractive dividend history. It is all set now to consider, approve financial results and recommend final dividend, if any. TCS declared a total of 83 dividends since October 28, 2004. In last 12 months, TCS announced an equity dividend of Rs 69.00 per share. At the current share price of Rs 3963.20, TCS has a dividend yield of 1.75%.

2. Infosys Share Performance & Return: Rahul Gandhi also has shares of IT software company Infosys Ltd. The 52-week high price of Infosys Ltd share on BSE is Rs 1731.00 apiece and 52-week low price is Rs 1215.45 apiece, respectively. The company's market capitalisation stands at Rs 6,17,067.96 crore. Infosys shares declined over 9% in last 1-month, fell over 4% year-to-date, and soared more than 5% in last 1-year. In last 2-years, Infosys stock declined 21% and gave return of 99% in last 5-years.

Infosys Dividend History: Infosys Ltd. announced 49 dividends since October 25, 2000. In last 12 months, Infosys announced an equity dividend of Rs 35.50 per share. At the current share price of ₹1486.60, Infosys Ltd offers a dividend yield of 2.39%.
Infosys Share Price Target: Brokerage firm JPMorgan appears upbeat on Infosys share and maintained an overweight rating with the target price of Rs 1800. Recently, the IT Software giant disclosed it received the tax refund of approximately Rs 6,329 crore from the income tax department.

Disclaimer: The stocks have been picked from the brokerage report of JPMorgan, CLSA, and UBS. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.