What To Expect? IT Major To Declare Dividend? Check Here
Tata Consultancy Services’ (TCS) board is scheduled to meet tomorrow, April 12, to consider a final dividend for the financial year ending March 31, 2024.
After the Artificial Intelligence boom, the IT industry saw layoffs worldwide. Experts were expecting low performance by the sector. Accenture lowered its growth guidance for FY24, and Indian IT major TCS is expected to report its Q4 results on Friday (April 12, 2024).
In the case of TCS the performance is expected to be better than other IT companies due to the deal win in Europe. HDFC Securities in its report said that deal bookings are expected to be strong for TCS (USD 10bn+ TCV) and steady for the rest with several large deals in Europe and it added that the brokerage held that TCS within the industry will lead growth at 1.3 per cent, reported Zee Business.
According To Zee Business, Let Us Take A Look At What Brokerage Firms Say On TCS Q4 Results 2024
Axis Securities expected the IT major to report 2.3 per cent growth during the period under review given the reversal in furloughs and ramp-up of the deals. It also stated that subcontracting costs may expand margins by 72 basis points.
IDBI Capital expects 1 per cent higher revenue in the March ending quarter in constant currency (CC) terms and the positive impact of cross currency to the tune of 40 bps. It estimated EBIT margin to edge higher by 52 bps sequentially amid higher utilisation and reduced furlough event.
HDFC Securities maintained that growth divergence within the sector and guidance and selective stance on the sector—prefer TCS within Tier-I. The brokerage has suggested an ‘add’ call with a target price of Rs 4450, with gains of nearly 13 per cent.
TCS dividend news:
Tata Consultancy Services’ (TCS) board is scheduled to meet tomorrow, April 12, to consider a final dividend for the financial year ending March 31, 2024. In its regulatory filing dated March 29, it said, “recommend a final dividend, if any, on the equity shares of the Company for the financial year ending March 31, 2024, for the approval of the shareholders at the ensuing 29th Annual General Meeting.”
TCS dividend history
Earlier TCS has declared 83 dividends since October 28, 2004, as per research portal Trendlyne. TCS also declared an equity dividend amounting to Rs 69 per share in the past 12 months. At the current levels, the dividend yield of TCS stands at 1.73 per cent.
