Rs 6, Rs 10.05, Rs 15 Payout: 3 TATA Group Stocks To Trade Ex-Dividend This Week; Add To Your Portfolio?

This week's focus will be on three companies: Tata Motors, Tata Chemicals, and Tata Technologies Ltd. These Tata group stocks are scheduled to trade ex-dividend soon. Analysts believe the aforementioned three stocks are appropriate additions to an investor's portfolio since they are optimistic on them ahead of the record date. For investors to get a better knowledge of the mentioned Tata group companies, we provided information on dividend payout and share price forecasts below.

Tata Motors Dividend

"We had informed that the Board of Directors of Tata Motors Limited ('the Company') at its Meeting held on May 10, 2024 had recommended a final dividend of Rs 6.00 per Ordinary Share of the face value of Rs 2 each (i.e.,@ 300%) (comprising of Rs 3.00 normal dividend and Rs 3.00 special dividend) and Rs 6.20 per 'A' Ordinary Share of the face value Rs 2 each (i.e.,@ 310%) (comprising of Rs 3.10 normal dividend and Rs 3.10 special dividend) for the financial year ended March 31, 2024, subject to obtaining shareholders' approval at the ensuing Annual General Meeting ('AGM'), we wish to inform you that the 79th AGM of the Company will be held on Monday, June 24, 2024 at 2:30 p.m. (IST) through Video Conferencing / Other Audio Visual Means. Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Tuesday, June 11, 2024 as the "Record Date" for the purpose of determining the entitlement of Members to receive the aforesaid dividend for the financial year ended March 31, 2024. The payment of such dividend, if approved by the shareholders at the AGM, shall be distributed amongst them, on or before Friday, June 28, 2024 and will be made subject to deduction of tax at source," said Tata Motors in a regulatory filing.

Tata Motors Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "The stock is presently trading at 972 levels and has found substantial support around 920 levels. The recent robust bounce from this support suggests a bullish stance for TATAMOTOR. The potential for further upward movement, potentially reaching new all-time highs, is underlined by the stock's resilience at key support levels. The Relative Strength Index (RSI) indicator is a testament to the stock's strength, comfortably trading at 53.60 levels. Additionally, TATAMOTOR is trading above all significant moving averages, reinforcing its positive technical position."

"A breakthrough above the resistance at 1010 could catalyze a strong upward movement, approaching the all-time high levels of 1065 and beyond. This analysis suggests a favorable outlook for TATAMOTOR, supported by technical indicators pointing towards potential bullish momentum in the upcoming sessions. Based on the provided technical analysis, we advise purchasing TATAMOTOR at the current market price of 972 for a short to medium-term outlook. A stop loss should be set at 920 to mitigate risk, targeting a potential rise to 1050 and 1065 levels," the analyst further added.

Tata Chemicals Dividend

"The Board of Directors had, at its meeting held on Monday, April 29, 2024, recommended a dividend of Rs 15 per ordinary share of Rs 10 each, subject to approval by the shareholders of the Company at the 85th AGM. Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Wednesday, June 12, 2024 as the Record Date for determining entitlement of Members to dividend for the financial year ended March 31, 2024. The dividend, if declared by the Members at the ensuing AGM, will be paid subject to deduction of tax at source, on or after Friday, June 28, 2024," said Tata Chemicals in a stock exchange filing.

Tata Chemicals Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "TATACHEM, currently trading at 1085 levels, has exhibited a sideways movement within the range of 1025-1130 over the past month. However, a strong bounce back is witnessed from the lower end. Should the stock breach the upper boundary of the mentioned range, it may encounter further buying interest, potentially leading to a rise towards the next resistance level at 1190. In light of this technical pattern, investors who entered positions at lower levels are advised to hold the stock with a stop loss of 1025 on closing basis."

"Conversely, if TATACHEM breaks the support mentioned, it could signal a further correction in the stock. Therefore, fresh investment should be approached cautiously if stock breaks the mentioned support. Given the technical signals present, investors should closely monitor price action and adjust their strategies accordingly to navigate TATACHEM's current market conditions effectively," the analyst further commented.

Tata Technologies Dividend

"The Board of Directors at its meeting held on May 3, 2024, had recommended a final dividend of Rs. 8.40 and special dividend of Rs. 1.65 per Equity share of Rs. 2 each of the Company for the financial year ended March 31, 2024, for approval by the shareholders at the AGM. Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015: 1. The Register of Members and Share Transfer Books of the Company will be closed from Friday June 14, 2024, to Friday, June 21, 2024 (both days inclusive). 2. The Company has fixed Thursday, June 13, 2024, as the "Record Date" for the purpose of determining the entitlement of Members to receive final and special dividend for the financial year ended March 31, 2024," said Tata Technologies in an exchange filing.

Tata Technologies Share Price Target

"TATATECH is presently trading at Rs 1056, with the stock price fluctuating in the range of 1020 to 1090. It is anticipated to remain sideways within this range. If the price breaches the 1111 level, there is potential for it to further ascend to the 1300 level in the short run, while support is observed near the 1010 level. The Relative Strength Index (RSI) is currently at 51.1 and is trending upward, indicating a significant sideways movement. The stock has shown resilience by rebounding from support levels at 1000, aligned closely with its low formation double bottom in the Daily Chart. Significantly, it is trading above 20-day Exponential Moving Average (EMA). indicating buying strength," said Deven Mehata - Equity Research Analyst at Choice Broking.

"The overall trend for TATATECH is sideways to Bullish, supported by various technical indicators, reinforcing the optimistic outlook. Given these signals, there is a possibility for the stock to achieve a target price of Rs 1300 in the near term. It is advisable to consider buying on dips, particularly around Rs 1033, to capitalize on potential retracements in the stock price. To prudently manage risk, implementing a stop-loss (SL) at Rs 1000 is recommended. This precautionary measure is crucial to safeguard investments in the event of an unexpected market reversal," he recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.