3 IT Stocks That Declared Dividends In Jan 2024, Should You Buy, Sell, Or Add?

Three leading companies operating in Software & Consulting recently declared their interim dividends and financial results. These companies are Tata Consultancy Services Ltd, Wipro Ltd, and HCL Technologies Ltd. Check more details about these stocks and dividends below:

1. Tata Consultancy Services Declares Dividend On Jan 11, 2024: As per the BSE filing of the company dated January 11, 2024, the Board of Directors declared its third interim dividend of Rs 9 and a special dividend of Rs 18 per equity share of Re 1 each of the company.

The third interim dividend and the special dividend shall be paid on Monday, February 5, 2024, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Friday, January 19, 2024, which is the Record Date fixed for the purpose, added the regulatory filing of TCS.

Tata Consultancy Services Stock Performance & Return: The 52-week high price of Tata Consultancy Services share on BSE is Rs 3928.95 per share and 52-week low price on BSE is Rs 3070.30 per share, respectively. The company has a market capitalisation of Rs 14,20,333.97 crore. Tata Consultancy Services shares soared 19.06% in last 6-months, gained 16.41% in last 1-year, offered return of 0.63% in last 2-years, and rose 22.34% in last 3-years. In last 5-years, TCS shares gave return of 110.74% and rallied 240% in last 10-years.

Motilal Oswal Recommends Buy: The analyst has assigned buy call to Tata Group stock Tata Consultancy Services Ltd with target price of Rs 4250 apiece. Last trading price of Tata Consultancy Services share on BSE is Rs 3881.70 per share. If you buy TCS share at last trading price of 3881.70 apiece, you can get potential return of 9.49%.

2. HCL Technologies Declares Interim Dividend Of Rs 12/Share: Last trading price of HCL Technologies share on BSE is Rs 1543.00 per share with intraday rally of 3.85% as on Jan 12, 2024. Its 52-week high price is Rs 1554.75 per share and 52-week low price is Rs 1016.45 apiece, respectively. HCL Technologies shares offered return of 39% in last 6-months and gained 43% in last 1-year.

According to the regulatory filing of the company dated Jan 12, 2024, the Board of Directors has declared an Interim Dividend of Rs 12/- per equity shares of Rs. 2/- each of the Company for the FY 2023-24. The company fixed the record date as January 20, 2024 for the payment of interim dividend. The payment date of the said interim dividend shall be January 31, 2024.

According to HDFC Securities brokerage report dated Jan 13, 2024, "HCL Technologies: HCL Tech (HCLT) posted strong Q3 performance, supported by a sharp jump in its Software business segment (seasonal), growth in services driven by Verizon mega deal ramp-up and ASAP consolidation (full-quarter impact). Importantly, the revised guidance implies a strong exit to FY24E with growth outperformance vs. peers even in FY25E. We maintain ADD on HCLT with TP of INR 1,700 based on 22x FY26E."

3. Wipro Ltd: Last trading price of Wipro share on BSE is Rs 465.45 apiece with intraday gain of 3.88%. The stock's 52-week high price is Rs 483.40 per share and 52-week low price is Rs 351.85 apiece, respectively. The company has a market capitalisation of Rs 2,43,167.25 crore. Wipro shares declined 2.48% year-to-date, soared 19% in last 6-months and gave return of 18% in last 1-year.

According to the BSE filing of the company dated Jan 12, 2024, the Board of Directors ('Board') of Wipro Limited, have at their meeting held over January 11-12, 2024, considered and approved the payment of interim dividend of Re 1/- per equity share of par value Rs 2/- each to the Members of the Company as on January 24, 2024, being the Record Date. The payment of Interim Dividend will be made on or before February 10, 2024.

According to HDFC Securities, "Wipro (WPRO) delivered in-line revenue and margin performance and guided an improved trajectory for Q4. Notwithstanding the flat revenue guide for Q4 (-1.5% QoQ to +0.5% QoQ), its trajectory is 'recovering' after a 6% drop in the quarterly revenue rate over the past three quarters. Maintain REDUCE on WPRO based on 17x FY26E for a TP of INR 450."

Disclaimer:

The stocks have been picked from the brokerage report of Motilal Oswal and HDFC Securities. 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.