280% Dividend: Multibagger Tata Group NBFC Declares 198.18% Rise In Net, Rs 28 Dividend

Tata Group company Tata Investment Corporation shares today rallied 0.88% to Rs 6675.00 per share at the time of writing the story (11:45 am). The NBFC on May 23, 2024 reported a strong jump of 198.18% in its net profit for the quarter ended March 31, 2024 to Rs 60.47 crore as compared to Rs 20.28 crore net profit in the corresponding quarter of last year. Tata Investment Corporation also recommended stunning dividend rewards too for shareholders. The Board declared a dividend of Rs 28/- per ordinary share of Rs 10 each. Current market price of Tata Investment Corporation share offered multibagger returns of 201% in last 1-year and gained 57% year-to-date. More details below:

Tata Investment Corporation Recommends Dividend: As per the BSE filing of the company dated May 23, 2024, "The Board of Directors have recommended a dividend of Rs. 28/- (280%) per Ordinary share of Rs. 10 each, which shall be paid after the Annual General Meeting, subject to approval of the Shareholders of the Company at the ensuing Annual General Meeting."

Tata Investment Corporation Q4: The NBFC declared a jump of 86.21% in its sales to Rs 57.11 crore for the March 2024 quarter from Rs 30.67 crore in March 2023. For the whole year, its net profit surged by 52.83% to Rs 384.96 crore for the year ended March 2024 as against Rs 251.88 crore declared in the previous year ended March 2023. Also, sales jumped by 38.23% TO Rs 383.12 crore for the year ended March 2024 as compared to Rs 277.16 crore declared in the previous year ended March 2023.

Tata Investment Corporation Share Performance: The 52-week high price of Tata Investment Corporation share on BSE is Rs 9,744.40 apiece (as on 07/03/2024) and 52-week low price is Rs 2183.05 per share (25/05/2023), respectively. The company has a market capitalisation of Rs 33,645.87 crore. Tata Investment Corporation shares declined over 2% in last 3-months, soared 61% in last 6-months, gained 349% in last 2-years, and rallied 535% in last 3-years. In last 5-years, Tata Investment Corporation shares offered gain of 662%.

FII/FPI have increased holdings from 1.20% to 2.25% in March 2024 quarter. Number of FII/FPI investors increased from 82 to 113 in March 2024 quarter. Institutional Investors have increased holdings from 2.14% to 3.20% in March 2024 quarter, according to Trendlyne.

Tata Investment Corporation Dividend History: Tata Investment Corporation announced 28 dividends since September 4, 2000. In last 1-year, Tata Investment Corporation announced an equity dividend amounting to Rs 48.00 per share. At the current share price of Rs 6675.00, Tata Investment Corporation offers a dividend yield of 0.72%.

Tata Investment Corporation Bonus Share History: Tata Investment Corporation offered 1 bonus issue since August 22, 2005. Last Bonus that Tata Investment declared was in the ratio 1:2 with ex-bonus date fixed as August 22, 2005.

About: Tata Investment Corporation Limited was promoted by Tata Sons Ltd., in 1937, under the name The Investment Corporation of India Limited. The Company remained a closely held company till 1959, when it became one of the few publicly held investment companies listed on the Stock Exchange, Mumbai. During the 1960s and 1970s the Company's activities underwent a gradual transformation from assisting in the establishment of new ventures, to acting as an investment company with a diversified portfolio of investments, according to its official website.

Disclaimer:

The stock highlights dividend, Q4, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.