Rs 10 Dividend: Shall Be Paid By November 5, Record Date October 18; BUY TCS?

Tata Consultancy Services (TCS) is a business solutions, IT services, and consulting firm that has been assisting many of the largest businesses in the world with their transformation initiatives for more than 56 years. The corporation, which is listed on the Indian BSE and NSE, had consolidated revenues of US $29 billion for the fiscal year that ended on March 31, 2024. Comprising more than 601,000 highly skilled consultants across 55 countries, TCS is a member of the Tata group, which is the largest international business group in India.

TCS Dividend Record Date

"We would like to inform you that at the Board Meeting held today, the Directors have declared second interim dividend of INR 10 per Equity Share of INR 1 each of the Company. The second interim dividend shall be paid on Tuesday, November 5, 2024, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Friday, October 18, 2024, which is the Record Date fixed for the purpose," said TCS in a stock exchange filing.

TCS Q2 Results

During the second quarter that ended on September 30, 2024, the IT giant recorded a 4.99% YoY growth in net profit of Rs 11,909 crore. TCS reported a net profit of Rs 11,342 crore for the corresponding quarter of the previous fiscal, the firm said in a regulatory filing. From Rs 60,698 crore in Q2FY24 to Rs 64,988 crore in Q2FY25, the company's revenue from operations climbed by 7.06%. In the second quarter of FY25, Tata Consultancy Services (TCS) reported a net headcount growth of 5,726 employees, up from 5,452 in the first quarter of the current fiscal. On September 30th, TCS reported 612,724 employees. With 150 different countries and 35.5% of women, the workforce is incredibly diversified. Over 11,000 new net employees were added in H1'FY25.

TCS Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "Tata Consultancy Services (TCS) has been in a downtrend since September month, trading below both its 20-day and 50-day Exponential Moving Averages (EMAs), which suggests ongoing bearish pressure. However, the stock price is approaching the 200-day Moving Average, around Rs 4,054, which could serve as strong support. The Relative Strength Index (RSI) is currently at 26.5, indicating that the stock is in oversold territory, potentially presenting a buying opportunity."

"Although TCS is trading below its 50-day EMA, which highlights short-term weakness, it is near the 200-day EMA, which might provide key support. Traders may consider entering a position at the current price of Rs 4,100, with a target of Rs 4,400. A stop loss set at Rs 3,950 can help manage risk effectively. While the trade setup appears promising, caution is advised due to possible short-term volatility. Effective risk management is essential for navigating this trade successfully," the analyst further added.

Disclaimer

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