Tata Group IT Giant To Mull Results, Dividend On Oct 10, Shares Fall 6.23%; Buy/Sell?

Tata group IT Sector company Tata Consultancy Services (TCS) informed today about its upcoming meeting of Board of Directors scheduled to be held on October 10, 2024 to consider financial results. The Board will also consider declaration of second interim dividend to the equity shareholders on October 10, 2024. The company fixed October 18, 2024 as the record date for interim dividend, Last trading price of Tata Consultancy Services shares on BSE is Rs 4268.40 per share with fall of 0.94% in trade today.

TCS shares recorded decline of 6.23% in last 1-month and rallied 20.89% in last 1-month. The company's market capitalisation stood at Rs 15,44,344.48 crore. Check details below:

Tata Consultancy Services To Consider Results: As per the exchange filing of Tata Consultancy Services dated September 30, 2024, "Pursuant to Regulation 29(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that a meeting of the Board of Directors of Tata Consultancy Services Limited is scheduled to be held on Thursday, October 10, 2024, inter alia to:
i. approve and take on record the audited condensed standalone financial results of the Company under Indian Accounting Standards (Ind AS) for the quarter and six month period ending September 30, 2024;

ii. approve and take on record the audited condensed consolidated financial results of the Company and its subsidiaries under Ind AS for the quarter and six month period ending September 30, 2024."

TCS To Consider Interim Dividend: The BSE filing added, "consider declaration of second interim dividend to the equity shareholders. The second interim dividend, if declared, shall be paid 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."

TCS Shares Performance: The 52-week high price of Tata Consultancy Services share on BSE is Rs 4585.90 apiece (as on 02/09/2024) and 52-week low price is Rs 3,313.00 per share (as on 01/11/2023), respectively. Tata Consultancy Services shares gave return of 22% in last 3-months. TCS shares declined 5.42% in last 2-weeks, gained more than 12% year-to-date, rallied 42% in last 2-years, and delivered returns of 103% in last 5-years. In last 10-years, TCS stock offered return of 211%.

TCS Previous Dividend In 2024: The company on July 11 said, "We would like to inform you that at the Board Meeting held today, the Directors have declared an interim dividend of Rs 10 per Equity Share of Re 1 each of the Company. The interim dividend shall be paid on Monday, August 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 Saturday, July 20, 2024, which is the Record Date, fixed for the purpose."

TCS Dividend History: Tata Consultancy Services announced 85 dividends since October 28, 2004. In last 1-year, TCS announced an equity dividend amounting to Rs 74.00 per share. At the current share price of Rs 4268.40, TCS offers a dividend yield of 1.73%.

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.

Should You Buy Or Sell TCS Shares? Brokerage firm Macquarie has outperform call on TCS with target price of Rs 5740 per share. According to the analyst, the company is growing faster than Infosys in spending rebounds. It expects more cloud migration deals to be bundled between applications and infra services. The analyst expects TCS to grow faster than Infosys in both FY 26 and FY 27.

Meanwhile, Nuvama appears optimistic about the Tata Group IT firm and said the company is poised to become one of the biggest beneficiaries of the upcoming tech cycle. The analyst expects TCS to report strong earnings growth in the near term, triggered by healthy deal-wins, and recommended buy call with a target price of Rs 4,800.

On the other hand, Investec assigned sell call with a target price of Rs 3,586.

Disclaimer: The stock has been picked from the brokerage report of Nuvama, Investec, and Macquarie. 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.