Rs 48/Share Dividend In FY23: Tata Group Stock To Mull Dividend For FY24 On This Date; Buy?

In the financial services industry, Tata Investment Corporation is a large-cap firm. As of Friday's BSE closing session, its market value was Rs 35,170.81 Cr. A non-banking financial firm, Tata Investment Corporation Limited (TICL) specialises in long-term investments such as equity shares and equity-related securities. The Tata group NBFC stock is going to be in focus in the coming sessions as the Board of Directors will meet soon to consider dividends for FY24.

Tata Investment Corporation News

"A meeting of the Board of Directors of the Company will be held on Wednesday, April 24, 2024, inter alia, to consider and approve: i. The Audited Standalone and Consolidated financial results of the Company for the financial year ended March 31, 2024; ii. Recommendation of dividend, if any, on the equity shares of the Company for the financial year ended March 31, 2024. In accordance with the 'Tata Code of Conduct for Prevention of Insider Trading' pursuant to the amended SEBI (Prohibition of Insider Trading) Regulations, 2015, the Company has intimated its Designated Persons regarding the closure of the trading window from Monday, March 25, 2024 to Friday, April 26, 2024 (both days inclusive)," said Tata Investment Corporation in a regulatory filing on April 10, 2024.

Tata Investment Corporation Dividend Yield

A 480.00% equity dividend, or Rs 48 per share, at face value of Rs 10 has been declared by Tata Investment Corporation for the fiscal year ended in March 2023. This translates as a dividend yield of 0.69% at the current share price of Rs 6951.40 on BSE. With five years of straight dividend declarations under its belt, the firm has a solid dividend track record. Trendlyne data indicates that since September 4, 2000, Tata Investment Corporation Ltd. issued 28 dividends.

Tata Investment Corporation Financials

On a consolidated basis, the company posted revenue from operations of Rs 50.55 crore in the December 2023 quarter up 34.23% from Rs. 37.66 crore in the December 2022 quarter. Its net profit reached Rs. 53.24 crore in Q3FY24 up 54.18% from Rs. 34.53 crore in Q3FY23. Tata Investment Corporation said in a regulatory filing that its quarterly consolidated EBITDA stood at Rs. 45.23 crore in the reported quarter, up 43% from Rs. 31.63 crore in the corresponding quarter of FY23.

Tata Investment Corporation Share Price Target

"Tata Investment Corporation Limited is India's leading non-banking financial company that invests in long-term investments such as equity shares and equity-related securities. The company has recently gained attention from traders and investors alike, especially after it delivered a remarkable 253.19% gain in a year. Its stock is trading at Rs. 7000, which is nearly 30% discounted price from its all-time high, adding to its appeal. As per my analysis, the stock is looking to retest the price range of Rs. 6300-6500 range before the next uptrend. Hence, I recommend waiting for the dip. However, individuals comfortable with the current price range and momentum may consider investing in parts to average returns. Swing traders may consider entering a price range of Rs. 6300-6500, setting a target of Rs. 8000-11500, and sticking to a holding period of 10-150 days. However, they must follow a stop loss at Rs. 6000 to avoid loss," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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