3 Bonus Issues, Rs 69/Share Dividend: Buy Tata Group IT Stock Ahead Of Q4 Results, Dividend

Tata Group IT Software stock, Tata Consultancy Services Ltd is expected to declare financial results and dividend, if any tomorrow. Last trading price of TCS share on BSE is Rs 3982.55 per share with intraday rally of 0.90%. Tata Consultancy Services Ltd shares offered return of 3.78% in last 2-weeks span and surged 22% in last 1-year. The company in last 12 months declared Rs 69/share dividend.

Leading brokerage firm CLSA appears upbeat on TCS shares as it has upgraded the target price to Rs 4043 per share from Rs 3925 per share. CLSA expects the leading IT firm, among large Indian IT companies, to top the charts in terms of CC QoQ growth. Meanwhile, UBS too has recommended buy call on TCS shares with a target price of Rs 4700 per share. Check details below:

CLSA, Other Analysts On Tata Consultancy Services Shares: CLSA has upgraded rating of TCS to underperform from sell. It stated that amid uncertain macro, IT companies should guide conservatively. Yes Securities has assigned buy call to TCS shares with target price of Rs 4600 apiece. UBS has also upgraded target price of TCS shares from Rs 4050 to now 4700.

Tata Consultancy Services Share Performance & Return: The 52-week high price of Tata Consultancy Services shares on BSE is Rs 4254.45 per share (18/03/2024) and 52-week low price is Rs 3070.30 per share (17/04/2023), respectively. The company has a market capitalisation of Rs 14,40,921.44 crore. Tata Consultancy Services shares declined nearly 3% in last 1-month, rallied over 7% in last 3-months, zoomed 8% in last 2-years, and offered gain of 94% in last 5-years. The scrip surged 275% in last 10-years.

Tata Consultancy Services To Declare Results, Recommend Dividend, If Any: The company on March 29 said the meeting of Board of Directors will take place on April 12, 2024. As per the filing, the company will 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.

TCS Dividend History: Tata Consultancy Services announced 83 dividends so far since October 28, 2004. In past 12 months, TCS declared an equity dividend of Rs 69.00 per share. At the current share price of Rs 3982.55 per share, TCS offers a dividend yield of 1.73%.

TCS Bonus Share History: The IT company announced 3 bonus issues since July 28, 2006. Last bonus issue of TCS was declared in the ratio of 1:1 with ex-date declared as May 31, 2018, according to data available at Trendlyne.

Axis Securities On TCS Results: Axis Securities expects TCS to report 2.3% growth during the period under review given the reversal in furloughs and ramp-up of the deals. Besides, the moderation in the sub-contracting cost is expected to expand margins by 72 basis points. Deal wins in the sector are likely to be the tune of USD 7-9 billion. Axis Securities sees the key monitorables to be deal total contract value or pipeline, pricing scenario and outlook on growth and margins.

Tata Consultancy Services Q3 Results: TCS on January 11, 2024 announced its net profit at Rs 11,058 crore for the quarter ended December 31, 2023, up 2% as against to Rs 10,846 crore in the similar quarter of last year. The marginal rally was registered despite high furloughs BFSI and hi-tech sectors along with regular slowdown in discretionary spending. Sequentially, TCS net profit declined 2.5%. The consolidated revenue soared 4% YoY to Rs 60,583 for the quarter under consideration from Rs 58,229 crore an year ago, according to the exchange filing of the company.

Disclaimer: The stocks have been picked from the brokerage report of Yes Securities, 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.