TCS Share Price: Right Time to Buy Shares; Expert advice, read detailed information
Brokerage Advice on TCS Shares
CLSA
Rating – Maintain Outperform
Target – 3550 Rs
morgan stanley
Rating – Maintain Equalweight
Target – Rs.3350
JP Morgan
Rating – Maintain Underweight
Target Rs.2700
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Jefferies
Rating – Maintain Hold
Target – Rs.3375
City
Rating – Maintain Sell
target – 3000
nomura
Rating – Maintain reduce
Target – Rs.2830
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hsbc
Rating – Maintain Hold
Target – Rs.3395
Macquarie
Rating – Maintain Outperform
Target – Rs.4510
Dividend declared by TCS
TCS announced final dividend of Rs 2400 per share i.e. Rs 24 per share based on face value of Rs 1, however the record date and payment date has not yet been disclosed. The company had issued Rs.22 per share in May 2022. Subsequently, an interim dividend of Rs 8 per share was issued in July. Then in October, the company again announced an interim dividend of Rs.8.
Freshers will be appointed
The company’s CHRO Milind Lakkar also informed about the hiring plan after the fourth quarter results were announced. He said the company plans to employ 40,000 freshers in the financial year 2023-24. Lakkar said that last year i.e. in the financial year 2022-23, the company had hired 44,000 freshers. Apart from this, a record number of experienced professionals were also appointed.
Vital figures of TCS results
- EBIT margin in the March quarter was 24.5%.
- The income of the company was 71.95 crores.
- Along with this, the company’s revenue in rupees for the March 2023 quarter increased by 1.6% quarter-on-quarter to Rs 59,162 crore.
