High ROE, Low PE Tata IT Giant Issues Record Date For Rs 28/Share Dividend, Eligible?

Tata group IT Sector company Tata Consultancy Services share today zoomed 2.12% in trade today to settle at Rs 3920.70 per share. Tata Consultancy Services today issued record date for Rs 28 per share dividend. Tata Consultancy Services shares gained 1.29% in last 1-week span and zoomed 21.35% in last 1-year. Earlier last month on April 12, TCS recommended final dividend of Rs 28/per equity share of Re 1 each of the company.

Motilal Oswal and Geojit has recommended buy call to TCS share with maximum target price of Rs 4600. TCS has a PE of 32.57 and ROE of 60.40. 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. More details below:

Tata Consultancy Services Issues Record Date For Final Dividend: As per the regulatory filing of TCS dated today, "the Company has fixed Thursday, May 16, 2024, as the Record Date for determining entitlement of Members to final dividend for the financial year ended March 31, 2024. If the final dividend as recommended by the Board of Directors is approved at the AGM, payment of such dividend, subject to deduction of tax at source, will be made on Tuesday, June 4, 2024."

How To Be Eligible For TCS Dividend? Record date plays a key role in fixing the eligibility of shareholders for the dividend. Traders whose name reflect in company's shareholders record as on the record date will become eligible to earn dividend announced by TCS. Record date is the particular day on which a company confirms the list of shareholders eligible for its dividend distribution. In the case of Tata Consultancy Services, the record date is May 16, 2024.

Geojit, Motilal Oswal Assign Buy Call: Motilal Oswal has assigned buy call with target price of Rs 4600 per share. Geojit has also given buy with target price of Rs 4344 per share. According to Geojit, the company's robust order book, strategic partnerships and widening margins auger well for its future performance. Hence, we remain optimistic and maintain our BUY rating on the stock, with a revised target price of Rs. 4,344 based on 27x FY26E adj. EPS.

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.

TCS Dividend History: Tata Consultancy Services Ltd. announced 83 dividends since October 28, 2004. In last 1-year, TCS announced an equity dividend amounting to Rs 69.00 per share. At the current share price of Rs 3920.70, TCS offers dividend yield of 1.76%.

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 14,18,543.57 crore. Tata Consultancy Services shares slipped over 5% in last 3-months, gave return of 16% in last 6-months, zoomed 26% in last 3-years, and surged 82% in last 5-years.

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.

Disclaimer: The stocks have been picked from the brokerage report of Geogit Financial Services and 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.