KR Choksey Recommends Large Cap Tata Group Dividend Stock To Buy, TP Rs 3915

KR Choksey has recommended investors to buy large cap Tata Group IT Software sector stock, Tata Consultancy Services Limited to buy with target price of Rs 3915 per share. Current market price of Tata Consultancy Services Limited share price is Rs 3512.00 per share. If you buy Tata Consultancy Services stock now at current market price of Rs 3512.00, you can fetch potential return of 11%. Tata Consultancy Services declared an interim dividend of Rs 9 per equity share of Re 1 each of the Company. Check details below:

Tata Consultancy Services Declares Interim Dividend On July 12, 2023: As per the BSE filing of TCS, "We would like to inform you that at the Board Meeting held today, the Directors have declared an interim dividend of ₹9 per Equity Share of ₹1 each of the Company.

TCS Record Date For Interim Dividend: The interim dividend shall be paid on Monday, August 7, 2023, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Thursday, July 20, 2023, which is the Record Date, fixed for the purpose.

TCS Stock Performance & Return: Last trading price of TCS share is Rs 3512.00 per share on BSE as of July 14, 2023 with intraday gain of 5.13%. The company has a market capitalisation of Rs 12,85,058.84 crore. Its 52-week high price is Rs 3575.00 per share and 52-week low price is Rs 2926.00 per share, respectively. TCS shares delivered return of 6% in last 1-week, 10% return in last 3-months, 17% return in last 1-year, and 62% return in last 3-years.

TCS Valuation: According to KR Choksey, "TCS is currently trading at a valuation with a P/E multiple of 26.5x/23.1x on FY24E/FY25E earnings. Despite persistent global macro uncertainties, TCS is well positioned with its size, steadfast market leadership position, best-in-asset class execution and order book (especially exposure to longer duration contracts) to deliver industry-leading growth/margin and demonstrate superior return ratios and hence we have changed our target price as INR 3,915 (Previously the target price was INR 3,888) with a P/E multiple of 27.0x to the FY25 with an estimated EPS of ~INR 145.0, an upside of 16.7% over the CMP. Accordingly, we maintain our "BUY" rating for the stock."

Disclaimer: The stock has been picked from the brokerage report of KR Choksey. 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.