Rs 27/Share Dividend Declared: Buy Large Cap Tata Stock, TP Rs 4250: Motilal Oswal

Brokerage firm Motilal Oswal has assigned buy call to large cap Tata Group stock Tata Consultancy Services Ltd with target price of Rs 4250 apiece. Last trading price of Tata Consultancy Services share on BSE is Rs 3881.70 per share. If you buy TCS share at last trading price of 3881.70 apiece, you can fetch likely return of 9.49%. Tata Consultancy Services shares gained 9.96% and rose 16.80% in last 1-year. TCS declared an interim dividend of Rs 9/share and special dividend of Rs 18 per share of Re 1 each. Check details below:

Tata Consultancy Services Declares Dividend On Jan 11, 2024: As per the BSE filing of the company dated January 11, 2024, the Board of Directors declared its third interim dividend of Rs 9 and a special dividend of Rs 18 per equity share of Re 1 each of the company.

The third interim dividend and the special dividend shall be paid on Monday, February 5, 2024, 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 Friday, January 19, 2024, which is the Record Date fixed for the purpose, added the regulatory filing of TCS.

Tata Consultancy Services Stock Performance & Return: The 52-week high price of Tata Consultancy Services share on BSE is Rs 3928.95 per share and 52-week low price on BSE is Rs 3070.30 per share, respectively. The company has a market capitalisation of Rs 14,20,333.97 crore. Tata Consultancy Services shares soared 19.06% in last 6-months, gained 16.41% in last 1-year, offered return of 0.63% in last 2-years, and rose 22.34% in last 3-years. In last 5-years, TCS shares gave return of 110.74% and rallied 240% in last 10-years.

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.

K Krithivasan, Chief Executive Officer and Managing Director, said: "Our strong performance in a seasonally weak quarter buffeted by macro-economic headwinds, demonstrates the strength of our business model with a well-diversified portfolio and a customer centric strategy. We are seeing strong deal momentum across markets resulting in a solid order book providing visibility into our long-term growth. We are seeing tremendous interest in Generative AI and are leading the innovation and exploratory efforts for our customers in this area."

N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, said: "The quarter saw us make significant progress in many projects of national importance, demonstrating our execution strength. Our products and platforms had a strong quarter with new wins and go-lives."

Disclaimer:

The stocks have been picked from the brokerage report of Motilal Oswal. 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.