Rs 16.70/Sh Dividend: Tata Stock To Trade Ex-Dividend On July 1, Should You Buy?

Large cap Tata Group company Tata Communications shares will trade ex-dividend on July 1, 2024 for Rs 16.70 per share final dividend. Tata Communications on April 17, 2024 recommended a final dividend of Rs 16.70 per share for the financial year ended March 31, 2024. Current market price of Tata Communications share on BSE is Rs 1854.30 per share with intraday fall of 0.27% as on June 28, 2024.

Tata Communications shares gained 17% in last 1-year and soared 100% in last 2-years. The company has a market capitalisation of Rs 52,847.55 crore. Check details below:

Tata Communications To Trade Ex-Dividend: The BSE filing of Tata Communications issued as on April 17, 2024, "We would like to inform that the Board of Directors has recommended a final dividend of Rs 16.70 per share (face value of Rs 10 each) for the financial year ended March 31, 2024. This dividend, upon approval of the shareholders at the ensuing Annual General Meeting (AGM), shall be paid to eligible shareholders after its conclusion."

Should You Buy Tata Communications Share? 2 leading brokerage firms namely Nuvama Institutional Equities and IIFL Securities have recommended buy call with target price of Rs 2200 and 2231 per share, respectively.

Tata Communications Shares Performance & Return: The 52-week high price of Tata Communications shares is Rs 2085.00 apiece (as on 03/04/2024) and 52-week low price is Rs 1515.50 apiece, respectively. Tata Communications shares zoomed 5% year-to-date, soared 43% in last 3-years, and offered return of 498% in last 5-years.

Tata Communications Financials: Tata Communications Limited on April 17 announced a fall of 1.5% in its consolidated net profit to Rs 321.2 crore for the quarter ended March 31, 2024. It announced a net profit of Rs 326 crore in the corresponding quarter of last year. Meanwhile, revenue from operations surged 24.6% to Rs 5,691.7 crore as against Rs 4,568.7 crore in the similar quarter of last year. Its EBITDA declared at Rs 1056.3 crore, up 2.1% and EBIT margin slipped 18.6% from 22.6%.

About: The Company enables the digital transformation of enterprises globally, including 300 of the Fortune 500 - unlocking opportunities for businesses by enabling borderless growth, boosting product innovation and customer experience, improving productivity and efficiency, building agility and managing risk. With its solutions orientated approach, proven managed service capabilities and cutting-edge infrastructure, Tata Communications drives the next level of intelligence powered by cloud, mobility, Internet of Things (IoT), collaboration, security and network services, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of HDFC Securities. 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.