3 Bonus Issues: Tata Group IT Giant To Recommend Dividend In 14 Days, Buy?

Tata Group stock, Tata Consultancy Services Ltd will hold its meeting of Board of Directors on April 12, 2024 to consider final dividend and financial results. Last trading price of TCS shares on BSE is Rs 3883.65 per share with intraday gain of 1.20%. Tata Consultancy Services shares witnessed decline of 7.69% in last 2-weeks and offered return of 25% in last 1-year.

The IT & Software sector stock declared 3 bonus issues so far. TCS declared eye-catching Rs 69/share dividend in 2023. Recently, it was in news for block deal wherein Tata Sons is planning to sell 2.3 crore shares in TCS via block deals. Check details below:

TCS To Consider Dividend, Quarterly Results: As per the regulatory filing of the company dated March 29, 2024, "a meeting of the Board of Directors of Tata Consultancy Services Limited is scheduled to be held on Friday, April 12, 2024, inter alia to:

i. approve and take on record the audited standalone financial results of the Company under Indian Accounting Standards (Ind AS) for the year ending March 31, 2024.

ii. approve and take on record the audited consolidated financial results of the Company and its subsidiaries under Ind AS for the year ending March 31, 2024; and

iii. recommend a final dividend, if any, on the equity shares of the Company for the financial year ending March 31, 2024, for the approval of the shareholders at the ensuing 29th Annual General Meeting."

TCS Dividend History: Tata Consultancy Services announced 83 dividends since October 28, 2004. In last 12 months, Tata Consultancy Services announced an equity dividend of Rs 69.00 per share. At the current share price of Rs 3883.65, TCS has a dividend yield of 1.78%.

TCS Bonus Share History: TCS announced 3 bonuse issues since July 28, 2006. Its last bonus issue was declared in the ratio 1:1 with ex-date fixed as May 31, 2018, according to Trendlyne.

Yes Securities Has Buy Call On TCS Shares: Yes Securities has assigned buy call to TCS shares with target price of Rs 4600 apiece. If you buy Tata Consultancy Services shares with current market price of Rs 3883.65 apiece, you can get potential return of 18.45%. According to the brokerage firm, Relative strength studies of TCS indicating a base building pattern, holding on to polarity zone point. Breakthrough after this pattern might lead to O/P of TCS. On standalone chart, TCS confirmed a bullish turtle break post bullish anchor column, indicating a rally towards Rs 4,600.

TCS Shares Performance: The 52-week high price of TCS stock on BSE is Rs 4254.45 apiece and 52-week low price is Rs 3070.30 apiece, respectively. Its market capitalisation is Rs 14,05,102.38 crore. Tata Consultancy Services shares declined 5.66% in last 1-month, rallied 9.79% in last 6-months, rose 5% in last 2-years, and gave return of 94% in last 5-years. In last 10-years, the scrip zoomed 268%.

TCS Block Deal: According to report, Tata Sons is planning to sell 2.3 crore shares in TCS via block deals. The total number of shares on offer is 0.64% of TCS total outstanding equity. Reports state that the offer price for the block deal is Rs 4,001 apiece, that is a 3.45% discount as against the Monday's closing price Rs 4144.75 apiece for Tata Consultancy Services.

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.

Disclaimer: The stocks have been picked from the brokerage report of Yes Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.