Large Cap IT Stock Set Oct 17 As Record Date To Consider Dividend, Results; Buy?

Large cap IT software sector company Infosys Ltd will hold meeting of Board of Directors on October 17, 2024 to consider financial results. The company will also consider declaration of interim dividend, if any. Last trading price of Infosys Ltd shares on BSE is Rs 1944.30 per share on BSE. Infosys shares gained 30% in last 3-months and jumped 30% in last 1-year. The company has a market capitalisation of Rs 8,07,299.55 crore. Earlier this year, Board of Infosys on April 18 recommended a dividend of Rs 28/share and shares traded ex-dividend on May 31, 2024. Check details below:

Infosys Ltd To Consider Results, Dividend: As per the exchange filing of Infosys Ltd dated September 13, 2024, "This is to inform you that a meeting of the Board of Directors of the Company will be held on Wednesday and Thursday, October 16 and 17, 2024 inter alia to:

1. Approve and take on record the audited consolidated financial results of the Company and its subsidiaries as per Indian Accounting Standards (INDAS) for the quarter and half year ending September 30, 2024;

2. Approve and take on record the audited standalone financial results of the Company as per INDAS for the quarter and half year ending September 30, 2024;

3. Approve and take on record the audited financial statements of the Company and its subsidiaries as per INDAS and IFRS for the quarter and half year ending September 30, 2024 and

4. Consider declaration of interim dividend, if any.

The financial results and proposal for interim dividend, if any, will be presented to the Board of Directors on October 17, 2024 for their approval."

Infosys Ltd Shares Performance: The 52-week high price of Infosys shares on BSE is Rs 1975.05 per share (as on 02/09/2024) and 52-week low price is Rs 1352.00 per share (as on 01/11/2023), respectively. Infosys shares rallied over 8% in last 1-month, gained 25% year-to-date, jumped more than 26% in last 2-years, and rose 15% in last 3-years.

Should You Buy Infosys Ltd Shares? Morgan Stanley has issued overweight call to Infosys shares and raised target price to Rs 2150 per share.

About: Infosys is a global leader in next-generation digital services and consulting. It enables clients in more than 50 countries to navigate their digital transformation. It also empowers the business with agile digital at scale to deliver unprecedented levels of performance and customer delight, according to its official website.

Disclaimer:

The stock has been picked from the brokerage report of Morgan Stanley. 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.