3 Tata Stocks To Start Considering Dividend From April 12 To April 23: Should You Buy?

Three Tata Group stocks will begin considering dividend from April 12 till April 23. These stocks are Tata Consultancy Services Ltd., Tata Communications, and Tata Elxsi. Two of these stocks are from IT Software sector and one from telecom sector. Leading brokerage Sumeet Bagadia of Choice Broking, KKunal V Parar of Choice Broking, and Prabhudas Lilladher have issued buy call to these 3 Tata Group stocks. Check more details below:

1. TCS To Consider Dividend, Result: TCS on March 29 informed through its BSE filing about the meeting of Board of Directors that would take place on April 12, 2024. TCS 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.

Current market price of TCS share on BSE is Rs 3997.70 per share on BSE. The 52-week high price is Rs 4254.45 apiece and 52-week low price is Rs 3070.30 per share. Its market cap is Rs 14,46,402.85 crore. Tata Consultancy Services shares zoomed over 2% in last 1-week, gained 24% in last 1-year, and offered 91% in last 5-years.

Sumeet Bagadia of Choice Broking said, "Fresh investors can buy TCS shares at the current level and keep accumulating on every big dip for the short-term target of Rs 4,300 per share level. However, one must maintain stop-loss at Rs 3,900 apiece level while taking any fresh position in the Indian IT major."

TCS share price is on the cusp of giving a fresh breakout at Rs 4,030 apiece level. On breaching this hurdle on a closing basis, TCS share price may touch Rs 4,200 and Rs 4,300 per share level in the short term. Those who have TCS shares in their portfolio are advised to upgrade the trailing stop loss at ₹3,900 per share mark, added Sumeet Bagadia.

2.Tata Communications: Tata Communications will consider, approve standalone and consolidated financial results for the FY ended March 31, 2024 on April 17. Tata Communications will also recommend dividend on April 17, 2024, if any. Current market price of Tata Communications share on BSE is Rs 2042.80 apiece. The 52-week high price is Rs 2085.00 per share and 52-week low price is Rs 1175.00 per share, respectively. The company's market cap is Rs 58,219.80 crore. Tata Communications shares fell 1.44% in last 1-week, gained 16% ytd, and surged 62% in last 1-year. In last 5-years, the stock soared 449%.

As per the BSE filing of the comapny, "it is hereby informed that, a Meeting of the Board of Directors of Tata Communications Limited ("the Company") is scheduled to be held on Wednesday, April 17, 2024 to inter alia consider, approve and take on record the Standalone and Consolidated Audited Financial Results along with the Reports of Statutory Auditors thereon for the financial year ended March 31, 2024 and to recommend dividend, if any, for the financial year ended March 31, 2024."

KKunal V Parar, VP of Technical Research from Choice Broking, Tata Communication shares gave a breakout of its Upper Band of Triangle formation. Trades can buy Tata Communications stock for a target price of Rs 2100 in the short to medium term. The analyst has urged to maintain stop loss below Rs 1670.

3. Tata Elxsi Will Consider Financial Results Along With Dividend: According to the exchange filing of Tata Elxsi issued today, "Pursuant to Regulation 29(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that a meeting of the Board of Directors of Tata Elxsi Limited ('the Company') will be held on Tuesday, April 23, 2024, inter alia, to consider:

1. The Audited Financial Results of the Company for the quarter and year ended March 31, 2024

2. Recommend dividend if any, on the equity shares of the Company for FY 2023-24."

Prabhudas Lilladher Gives Buy Rating: Renowned brokerage firm Prabhudas Lilladher has buy call on Tata Elxsi shares with price target of Rs 9000 apiece.

Current market price of Tata Elxsi share on BSE is Rs 7940.00 per share. Tata Elxsi shares 52-week high price is Rs 9191.10 per share and 52-week low price is Rs 6048.35 per share, respectively. The company's market cap is Rs 49,416.36 crore. Tata Elxsi shares zoomed 723% in last 5-years, gained 31% in last 1-year, and over 3% in last 1-week.

Disclaimer:

The stocks have been picked from the brokerage reports of Prabhudas Lilladher and Choice Broking. Greynium Information Technologies, the Author, and the respective Brokerage Houses 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.