Rs 69/Share Dividend: Buy Tata Dividend King Stock As 3 Analysts Upgrade TP, Big News Soon

Analysts at leading brokerage firm 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."

Current market price of Tata Consultancy Services share on BSE is Rs 3963.20 per share with intraday gain of 0.40%. TCS shares offered return of 24% in last 1-year and gained over 12% in last 6-months. Check details below:

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 To Mull Dividend, Financial Results On April 12: TCS on March 29 shared the news via its exchange filing about the meeting of Board of Directors that would take place on April 12, 2024. According to the filing, 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.

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%.

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

Yes Securities Recommends Buy: Apart from CLSA, Yes Securities has also recommended buy rating to TCS shares with target price of Rs 4600 apiece. If you buy Tata Consultancy Services shares with current market price of Rs 3963.20 per share, you can get potential return of 16.07%. As per the analyst, Relative strength studies of TCS indicating a base building pattern, holding on to polarity zone point. Breakthrough after this pattern might lead to O/P of TCS. On standalone chart, TCS confirmed a bullish turtle break post bullish anchor column, indicating a rally towards Rs 4,600."

UBS Upgrades To Buy: 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."

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, UBS, CLSA. 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.