3 Bonus Shares, Rs 27/Share Dividend In Q3: Buy Tata Group IT Giant, TP Rs 4450: HDFC Securities

HDFC Securities has buy call on Tata Consultancy Services Ltd shares with target price in the range of Rs 4,330- Rs 4,450. The analyst has recommended investors to keep the stop loss at Rs 3,950 apiece. Last trading price of Tata Consultancy Services shares on BSE is Rs 4191.35 apiece with intraday gain of 1.69%. TCS shares hit its fresh 52-week high price today at 4229.30 apiece. TCS share offered return of 25.83% rally in last 1-year and 108% surge in last 5-years.

According to HDFC securities, Tata Consultancy Services share price has broken out on the monthly chart by surpassing the multiple top resistance of Rs 4,000 odd levels. TCS shares price has been forming bullish higher top higher bottom formation on the weekly chart. It is expected that large cap IT stocks outperform in the days to come. Check details below:

Tata Consultancy Services Shares Performance & Return: The 52-week high price of TCS shares on BSE is Rs 4229.30 per share and 52-week low price is Rs 3070.30 apiece, respectively. Tata Consultancy Services shares surged 16.40% in last 2-years, gained 37% in last 3-years, and offered rally of 285% in last 10-years. In last 1-week, TCS stock BSE rallied 4.49% and gained 14% in last 3-months.

Tata Consultancy Services Dividend In 2024 & Dividend History: As per the BSE filing of the company dated January 11, 2024, the Board of Directors declared its third interim dividend of Rs 9 and a special dividend of Rs 18 per equity share of Re 1 each of the company. The company fixed January 19, 2024 as the Record Date.

Tata Consultancy Services Ltd announced 83 dividends since October 28, 2004. In last 12 months, TCS announced an equity dividend amounting to Rs 69.00 per share. At the current share price of Rs 4191.35, it offers dividend yield of 1.65%.

TCS Bonus Share History: Tata Consultancy Services Ltd offered 3 bonus shares since July 28, 2006. Its last bonus issue was announced in the ratio 1:1 with ex-bonus date fixed as May 31, 2018. It declared 1:1 bonus share in 2009 and again 1:1 bonus issue in 2006.

Tata Consultancy Services Q3 Results: The company on January 11, 2024 declared its net profit at Rs 11,058 crore for the quarter ended December 31, 2023, up 2% as compared to Rs 10,846 crore in the corresponding quarter of last year. The marginal surge was recorded despite high furloughs BFSI and hi-tech sectors along with continuous slowdown in discretionary spending. On sequential quarter basis, TCS's net profit was down 2.5%. Meanwhile, the consolidated revenue surged 4% YoY to Rs 60,583 for the quarter under consideration from Rs 58,229 crore an year ago, as per the BSE filing of the company.

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