Tata Group FMCG Stock To Hit Ex-Dividend On May 24, Motilal Oswal Gives Buy Call; TP Rs 1350

Large cap Tata Group company from the FMCG sector, Tata Consumer Products Ltd (TCPL) shares will go ex-dividend on May 24, 2024. Current market price of Tata Consumer Products Ltd share on BSE is Rs 1094.95 per share. Brokerage firm Motilal Oswal has recommended buy call for Tata Consumer Products share with target price of Rs 1350. Board of Directors of Tata Consumer Products recommended dividend of Rs 7.75 per share of Re 1 each.

Life Insurance Corporation Of India (LIC) has 8.04% stake in Tata Consumer with 76,605,809 shares of the company. FII/FPI have decreased holdings from 25.62% to 25.46% in March 2024 quarter. Number of FII/FPI investors increased from 968 to 986 in March 2024 quarter. Mutual Funds have increased holdings from 6.36% to 6.58% in March 2024 quarter. More details below:

Tata Consumer Products Shares To Go Ex-Dividend: As per the regulatory filing of Tata Consumer Products dated May 13, "Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Friday, May 24, 2024, as the Record Date for determining entitlement of Members to receive the dividend for the financial year ended March 31, 2024, if declared at the 61st AGM. The payment of such dividend shall be subject to deduction of tax at source, as applicable and will be made on and from Monday, June 17, 2024."

Tata Consumer Products Dividend History: Tata Consumer Products Ltd. has declared 25 dividends since Aug. 17, 2001.
Tata Consumer Products Ltd Stock Split History: Tata Consumer Products split the face

value of its shares once since June 30, 2010. Tata Consumer Products Ltd. last split the face value of its shares from Rs 10 to Re 1 in 2010.The share traded ex-split as on June 30, 2010.

Motilal Oswal On Tata Consumer: According to the analyst (as per its research report dated April 24, 2024), "Tata Consumer Products (TATACONS) reported a strong operating performance in 4QFY24. EBIT growth of 20% YoY was led by a healthy performance in the international branded beverage segment (EBIT up 29% YoY), and non-branded business (up 3.6x YoY). However, the EBIT of the India branded business grew by only 3% YoY." We broadly maintain our FY25/FY26 EPS estimates. Reiterate BUY with an SoTP-based TP of INR1,350, added Oswal.

TCPL Shares Performance & Return: The 52-week high price of Tata Consumer Products shares on BSE is Rs 1269.60 per share (as on 07/03/2024) and 52-week low price is Rs 685.00 per share (as on 19/05/2023), respectively. The company has a market capitalisation of Rs 1,04,330.65 crore. Tata Consumer Products shares declined 4.55% in last 3-months, surged over 17% in last 6-months, rallied 41% in last 1-year, and 45% in last 2-years, soared 68%, and offered return of 365% in last 5-years.

Tata Consumer Products About: Tata Consumer Products is a focused consumer products company uniting the food and beverage interests of the Tata group under one umbrella. It is home to key brands such as Tata Tea, Tetley, Tata Salt and Tata Sampann. With a combined reach of over 201 million households in India, it has an unparalleled ability to leverage the Tata brand in consumer products.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal. 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.