Tata Group Stock Rs 18/Share Dividend: Trades Ex-Dividend On Tuesday, Payable On Or After July 10; Buy?

On Tuesday, the shares of Tata Investment Corporation are likely to be on focus as the stock trades ex-dividend for Rs 28 per share final dividend for FY24. During the last trading session, Tata Investment Corporation shares ended on the BSE at a 5% upper circuit limit at Rs 6732.60 apiece with a market cap of Rs 34,063.79 Cr. The company's main line of business is investing in long-term securities such as equity shares and securities related to equities. Tata Investment is a non-banking financial company (NBFC) registered with RBI.

Tata Investment Corporation Record Date For Dividend

"The Register of Members and the Share Transfer Books of the Company will be closed from Wednesday, June 19, 2024 to Wednesday, June 26, 2024 (both days inclusive). The dividend of Rs 28 per equity share of Rs 10 each (280%), if declared at the AGM, will be paid subject to deduction of tax at source ('TDS') on or after Wednesday, July 10, 2024 as under: (i) To all the Beneficial Owners as per the list of beneficial owners to be furnished by the National Securities Depository Limited and Central Depository Services (India) Limited in respect of the shares held in electronic form as at the end of the day on Tuesday, June 18, 2024; and (ii) To all Members in respect of shares held in physical form, whose names are on the Company's Register of Members after giving effect to valid requests with respect of transmission/ transposition of shares lodged with the Company as of the close of business hours on Tuesday, June 18, 2024," said Tata Investment Corporation in a statement.

Tata Investment Corporation Dividend Payment Date

"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. The dividend, if approved by the members at the ensuing AGM will be paid on or after Wednesday, July 10, 2024," the company informed to stock exchanges.

Tata Investment Corporation Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "TATAINVEST is currently trading at 6731 levels, demonstrating notable strength following a robust bounce back from a consolidation range of 6375-6550 levels. The stock has successfully surpassed its short-term (20-day) and medium-term (50-day) Exponential Moving Averages (EMAs), indicating bullish momentum and increased investor confidence. Trading above all key moving averages, TATAINVEST showcases strong market sentiment and upward potential."

"Investors who have held the stock from lower levels are advised to continue holding their positions, using a trailing stop loss of 6375 levels to protect against potential downside risks. For those considering new investments, the current market price (CMP) of 6731 levels presents a viable entry point. Additionally, adding positions on dips near 6550 levels with a stop loss set at 6375 can optimize risk management while targeting gains. The stock has the potential to reach targets of 7450 and above, reflecting its solid technical foundation and favorable market conditions," the analyst further recommended.

Disclaimer

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