Rs 28 Dividend: Tata IT Giant Launches Gen AI Platform WisdomNextTM, Buy For TP Rs 4700

Tata group IT Sector company Tata Consultancy Services (TCS) share today surged 1.81% in trade on BSE to Rs 3899.95 per share as the company launched TCS AI WisdomNextTM, a platform that aggregates multiple Generative Artificial Intelligence (GenAI) services into a single interface and enables organizations to rapidly adopt next-gen technologies at scale, lower costs and within regulatory frameworks. Earlier last month on April 12, TCS recommended final dividend of Rs 28/per equity share of Re 1 each of the company and set May 16 as record date. FII/FPI have increased holdings from 12.46% to 12.70% in March 2024 quarter. LIC Of India has 4.86% stake in TCS with 175,975,338 shares. Leading brokerages have recommended buy call to TCS share with highest target price of Rs 4700. More details below:

TCS Launches WisdomNextTM: The industry leading platform is designed to remove barriers for customers to develop and launch business solutions, allowing for real-time experimentation across vendor, internal, and open-source LLM models. AI and GenAI have far-reaching applications across the value chain for businesses. However, solution designers around the world find it difficult to select, experiment and decide on the right foundational models to use.

Siva Ganesan, Head, AI.Cloud Unit, TCS, said, "TCS AI WisdomNext helps our customers take advantage of GenAI to unlock the full potential of their data, drive greater business innovation and efficiency, and gain a competitive edge. Customers appreciate the newly launched platform's ability to help navigate a diverse and quickly evolving AI marketplace and rapidly compose 'art-of-the-possible' solutions. We are solving business problems and helping our customers redefine what it means to harness the power of GenAI."

TCS Share Performance: The 52-week high price of Tata Consultancy Services share on BSE is Rs 4254.45 apiece (as on 18/03/2024) and 52-week low price is Rs 3,156.20 per share (as on 16/06/2023), respectively. The large cap IT Software giant of Tata Group has a market capitalisation of Rs 14,11,036.03 crore on BSE. Tata Consultancy Services shares gave return of 6.19% in last 1-week and declined nearly 5% in last 3-months. TCS shares rallied over 18% in last 1-year, jumped 16% in last 2-years, and gave return of 79% in last 5-years. In last 10-years, TCS stock offered return of 273%.

Brokerages Bullish On TCS Shares: After the company declared its Q4 results several brokerages appeared bullish and recommended buy call. TCS emerged HSBC's preferred pick in the IT services sector. The brokerage has 'buy' call on TCS share with the target price of Rs 4,540.

"Nonetheless, the conversion of deal wins into revenue is a matter of time," UBS said. The analyst gave buy rating to TCS share with the target price of Rs 4,700 per share. It expects the IT giant to lead its peers in revenue growth along with better margins in FY25.

According to Goldman Sachs, quarterly performance of TCS increased probability of the company reporting double-digit earnings growth in FY25. The analyst gave buy call to TCS with a price target of Rs 4,350, and maintained its 8% revenue growth projection for the company in FY25, compared to 3.4% that it reported in the previous financial year.

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.

TCS Q4 Results: Earlier on April 12, TCS announced a net profit of Rs 12,434 crore, up 9.1% year-on-year (Y-o-Y). Sequentially, the IT Software company's profit after tax soared 6% from Rs 11,735 crore. Its revenue for the quarter surged 3.5% YoY to Rs 61,237 crore. Sequentially, it surged 1%. The company inked one of its highest total contract values (TCV) worth $13.2 billion for the Q4 of FY24. For FY24, TCS declared its order book at $42.7 billion, highest so far.

Disclaimer:

The stocks have been picked from the brokerage report of UBS, HSBC, and Golman Sachs. 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.