Rs 9/Share Dividend: Tata Stock To Go Ex-Dividend Tomorrow, Motilal Oswal Upbeat

Shares of large cap Tata Group stock Tata Consultancy Services will trade ex-dividend on October 19, 2023. Earlier, the company on October 11, 2023 declared an interim dividend of Rs 9/share of Re 1 each. Current market price of Tata Consultancy Services share on BSE is Rs 3514.95 per share with intraday gain of 0.24% at 11:34 am. TCS shares witnessed a decline of 2.64% in last 1-week and gained 12.25% in last 6-months. Check details below:

Tata Consultancy Services Stock To Go Ex-Dividend Tomorrow: As per the regulatory filing of the company dated October 11, TCS announced its 2nd interim dividend of Rs 9 per equity share of Re 1 each of the company. The company will be paying the 2nd interim dividend on Tuesday, November 7, 2023 to the equity shareholders of the company whose name reflect on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Thursday, October 19, 2023, which is the Record Date fixed for the purpose.

What Is Ex-Dividend Date: Ex-dividend date is the day when the price of the equity share of the listed firm gets adjusted for the dividend payout. Investors should ideally have shares in their Demat account by the record date in order to become eligible to obtain dividends, according to BSE FAQs.

TCS Stock Outlook & Return: Current market price of TCS stock on BSE is Rs 3510.00 per share with intraday gain of 0.10% or 3.35 points at the time of writing the report (11:41 am). The stock's 52-week high price is Rs 3680.00 per share and 52-week low price is Rs 3070.30 per share, respectively. The company has a market capitalisation of Rs 12,84,473.39 crore. TCS shares surged 7.80% YTD, offered a return of 11.80% in last 1-year, fell 3.63% in last 2-years, and rallied 82% in last 5-years when S&P BSE Information Technology gave return of 120.15% (5 years).

Motilal Oswal On TCS Shares: According to brokerage firm Motilal Oswal in its report dated October 12, "We maintain our positive stance on TCS. Our TP of INR4,060 implies 28x FY25E EPS, with a 12% upside potential. We reiterate our BUY rating." Given its size, order book and exposure to long-duration orders and portfolio, TCS is well positioned to withstand the weakening macro environment and ride on the anticipated industry growth, added the analyst.

TCS Q2 Result: TCS operating profit during Q2 soared 9.1% to Rs 14,483 crore and operating margins widened by 25 bps to 24.3%. It is worth mentioning here that in the Q2 results of TCS, the US Dollar revenue fell for the first time in 17 quarters. Revenue in US Dollar terms declared at $7.2 billion. Sequentially, the company's US Dollar revenue fell by 0.2%.

Attrition Rate & Work From Home: Attrition rate at TCS declined 14.9% during the quarter against 17.7% in the previous quarter. 'The employee base continues to be very diverse, with 35.8% women and with 152 nationalities,' said the company. The company also issued a statement on work from home and said, "We have the system, and rules to adapt ourselves for the right things in every project. We discussed this internally and now we advise employees to come to the office and the advantages are being realised. 70% of employees are already coming to the office now. It is advisable for all to come to the office and it is the need of the hour and this is the TCS way of working."

Disclaimer

The stock just highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.