TCS Share Target: After the announcement of Q1 results and dividend, brokerage houses are bullish on this Tata giant share. Know the reason for the rise in the stock and how far will the price go?
TCS Share Price: Tata Consultancy Services (TCS), the leading IT company of Tata Group, has created a blast in the market. As soon as the company released the results of the first quarter (Q1) of its current financial year, the faces of investors in the stock market lit up. TCS shares rose up to 4% on Friday. Till 10 am today, the stock is trading at ₹ 2,079 (about ₹ 2,100), but seeing the results, big market experts and brokerage houses are so happy that they have given big target prices for it. Let us know how the company’s results were, how much dividend you are going to get and what big predictions the experts are making about this stock…
Why did TCS shares run up as soon as the results came?
In the April to June quarter, the company’s profit has increased by 4.61% year-on-year to ₹13,349 crore. The company had earned ₹12,760 crore in the same quarter last year. The company’s total revenue has increased by a huge 13.9% year-on-year and has reached ₹72,275 crore. TCS reported that its annual AI revenue has reached $2.6 billion with a quarterly growth of 13.6%.
TCS’s double bonus for investors
dividend gift
If you have TCS shares or are thinking of buying, then the company has given another big good news for you. The company has announced an interim dividend of ₹ 12 on each of its shares. The record date for this has been fixed on July 15. That is, if you have shares till this date, then the dividend money will be transferred directly to your bank account by 31st July.
9,200 new jobs
Tata won the hearts of not only investors but also on the employment front. In this quarter, the company has added more than 9,200 new employees, after which the total workforce of the company has increased to 5,93,798. This shows that work is now increasing rapidly in the IT sector.
TCS Share Price Target: What brokerage houses are saying
Brokerage firm Centrum Broking believes that the company is getting great deals through AI and big projects. Their strong order book may take the stock beyond ₹ 3,480 in the coming time, which is much higher than the current price. At the same time, Motilal Oswal has also given a BUY rating and a target of ₹ 2,350. Keep in mind that there are some risks in the short term due to global uncertainties like the West Asia crisis and fluctuations in IT budgets, but for the medium to long term, experts are completely bullish.
Disclaimer: The information given in this article is for informational purposes only and should not be taken as investment advice. Investing in the stock market is subject to risks. Before investing money in any stock, definitely consult your financial advisor or market expert.