Tata's IT Stock To Consider Dividend, Results On July 11; Motilal Oswal Sets TP

Board of Directors of Tata group IT Sector company Tata Consultancy Services (TCS) will consider financial results for the quarter ending June 30, 2024 and interim dividend on July 11. TCS fixed July 20, 2024 as the record date for interim dividend. Current market price of TCS share on BSE is Rs 3975.95 per share with intraday fall of 0.91%. Tata Consultancy Services shares offered gained 19.55% in last 1-year and rose over 4% in last 2-weeks. 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. Earlier this year on April 12, TCS declared a final dividend of Rs 28 per equity share of Re 1 each of the company and fixed May 16 as the record date. Check details below:

TCS To Consider Results & Interim Dividend: As per the regulatory filing of TCS issued as on June 28, 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, July 11, 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 ending June 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 ending June 30, 2024; and
iii. consider declaration of an interim dividend to the equity shareholders."

TCS Sets Record Date For Interim Dividend: The exchange filing added, "The 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 Saturday, July 20, 2024, which is the Record Date fixed for the purpose."

Should You Buy TCS Share? Leading brokerage firm Motilal Oswal recommended buying Tata Consultancy Services for a target price of Rs 4,600.

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 3,250.00 per share (as on 12/07/2023), respectively. The large cap IT Software giant has a market capitalisation of Rs 14,38,533.51 crore on BSE. TCS shares offered return of over 8% in last 6-months, gained 22% in last 2-years, soared 22% in last 3-years, and offered return of 83% in last 5-years.

TCS Financials: 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 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.

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