Rs 28/Share Dividend: Multibagger Tata NBFC Issues Payment Date Of Dividend

Tata Group company Tata Investment Corporation shares witnessed fall of 2.92% in last 1-week but gained a robust 187% in last 1-year. Last trading price of Tata Investment Corporation share on BSE is Rs 6424.05 per share with intraday fall of 1.35%. Earlier this month on May 23 the company recorded a stunning rally of 198.18% YoY in net profit for the quarter ended March 31, 2024 to Rs 60.47 crore as against Rs 20.28 crore in the corresponding quarter of last year. The Board of Tata Investment Corporation recommended a dividend of Rs 28/- per ordinary share of Rs 10 each. Check key details below:

Tata Investment Corporation Announced Dividend On May 23, 2024: According to the regulatory filing of Tata Investment Corporation issued on May 23, 2024, "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 Issues Payment Date Of Dividend: As per BSE filing issued on May 30, "The 87th Annual General Meeting (AGM) of the Company will be held on Tuesday, July 9, 2024, at 11:30 a.m. (IST) through video conferencing / other audio visual means."

Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and the Share Transfer Books of the Company will remain closed from Wednesday, June 19, 2024 to Wednesday, June 26, 2024 (both days inclusive) for taking record of the Members of the Company for the purpose of the 87th Annual General Meeting (AGM) and payment of dividend subject to tax deducted at source, if approved by the Members of the Company at the AGM, added the BSE filing.

The dividend, if approved by the members at the ensuing AGM will be paid on or after Wednesday, July 10, 2024.

Tata Investment Corporation Q4: It announced a rally 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 entire year, the NBFC's net profit soared 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. Sales for entire year soared 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 fell 11.66% in last 3-months, gained 50% year-to-date, soared 312% in last 2-years, and surged 505% in last 3-years. In last 5-years, Tata Investment Corporation offered whopping returns of 622%.

It is worth mentioning here that FII/FPI have increased holdings from 1.20% to 2.25% in Mar 2024 qtr. Number of FII/FPI investors increased from 82 to 113 in Mar 2024 qtr. Institutional Investors have increased holdings from 2.14% to 3.20% in March 2024 quarter.

Tata Investment Corporation Dividend History: Tata Investment Corporation declared 28 dividends since September 4, 2000. In last 1-year, Tata Investment Corporation announced an equity dividend amounting to Rs 48.00 per share.
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.

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