Tata Consultancy Services Ltd.’s share price is in the spotlight on Thursday, as it marks the last session for investors to buy shares to qualify for receiving interim and special dividends before the stock goes ex-trade. The record date will determine the eligible shareholders who will receive the dividend payment.
Last week, TCS announced a third interim dividend of Rs 10 and a special dividend of Rs 66 per equity share.
The third interim and the special dividend will be paid on Feb. 3 to eligible shareholders. The record date for the dividend is set for Jan. 17.
Given India’s T+1 settlement cycle, shares purchased on the record date (Jan. 17 in this case) itself will not be eligible for the dividend payment. Therefore, investors who own shares by Jan. 16 will be the beneficiaries.
TCS’s net profit rose 4.1% sequentially to Rs 12,444 crore in the three months ended Dec. 31, 2024, in-line with estimates. The IT major’s revenue from operations dipped 0.4% over the previous three months to Rs 63,973 crore in the third quarter.
TCS Share Price Movement
In last four days, since the dividend and result announcement, TCS share price has risen nearly 5%.
The scrip was trading 0.55% lower at Rs 4,231.95 apiece as of 10:27 a.m., compared to 0.4% gain in the benchmark Nifty 50. The relative strength index was at 51.
The stock has risen 9.5% in the last 12 months.
Out of 49 analysts tracking the company, 34 maintain a ‘buy’ rating, nine recommend a ‘hold,’ and six suggest ‘sell,’ according to Bloomberg data. The average 12-month consensus price target of Rs 4,526.56 implies an upside of 7%.
. Read more on Markets by NDTV Profit.TCS announced last week a third interim dividend of Rs 10 and a special dividend of Rs 66 per equity share. Read MoreMarkets, Buzzing Stocks, Business, Notifications
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