Mid Cap Tata Stock Sets Record Date For Rs 21/Share Dividend, Should You Buy?

Board of Tata Group stock, Tata Communications Ltd has fixed June 26, 2023 as the record date for payment of dividend for financial year 2023. The company recommended a final dividend of Rs 21.00 per share on April 19, 2023. Current market price of Tata Communications share is Rs 1435.00 per share with intraday jump of 1.92% on BSE. Check details below:

Tata Communications Sets Record Date For Final Dividend: According to the BSE filing of the company, "Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and the Share Transfer Books of the Company will be closed as hereunder for the purpose of payment of the dividend for the financial year ended March 31, 2023, subject to deduction of tax at source, if approved by the Members at the AGM. The record date for payment of dividend is June 26, 2023.

Tata Communications Stock Performance & Return: Current market price of Tata Communications share is Rs 1435.00 on BSE. Its 52-week high price is quoted at Rs 1451.80 per share and 52-week low price is Rs 856.00 per share, respectively. The company has a market capitalisation of Rs 40,871.85 crore.

Brokerage View On Tata Communications Share: ICICI Securities has recommended buy call for Tata Communications share with target price of Rs 1510. If you buy Tata Communications stock now, you can fetch potential return of 5%. The mid cap company was incorporated in 1986. The company for the quarter ended March 31, 2023 declared its consolidated total income at Rs 4630.45 crore, up 1.57% from last quarter total income of Rs 4559.09 crore. It announced its net profit after tax at Rs 317.35 crore in latest quarter.

About Tata Communications: Tata Communications is a digital ecosystem enabler that powers today's fast-growing digital economy. 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, according to its official website.