Why Tata Group Stock Is Falling? Now1.37% Away From 52-Week Low

The stock of Tata Consultancy Services Ltd is 1.37% away from its 52-week low as the record date for interim dividend is tomorrow. The stock has been witnessing decline ever since it declared disappointing results for the April to June quarter.

Why Tata Group Stock Is Falling? Now1.37% Away From 52-Week Low

It declared an 5% surge in its net profit at Rs 9,478 crore for the first quarter of the current fiscal as compared to Rs 9008 crore reported in the same quarter last year. The profit has dipped by 4.5%. Meanwhile, its revenue from operations for Q1FY 2023 reported at Rs 52,758 crore, rose 16% from Rs 45,411 crore YoY.

The current market price of the stock is Rs 2994 apiece. The 52-week high is Rs 4043 apiece and 52-week low 2953 apiece.

In the last one week only, the stock has fallen 8.29% while in one month it has fallen 6.6%. The stock has given multibagger returns of 150% in the last 5 years. The market capitalization is Rs 1,095,739 crore and dividend yield is 1.44%.

When the stock announced the earning for the 1st quarter ended June 2022, the board also announced an interim dividend of Rs 8 per equity share. The record date of the interim dividend is tomorrow i.e. July 16, 2022.

The leading IT service company is scheduled to pay an interim dividend of Rs 8 per equity share to its shareholders. In its BSE filing the company’s board of directors said, “We would like to inform you that at the Board Meeting held today, the Directors have declared an interim dividend of ~8 per Equity Share of ~1 each of the Company.” The interim dividend shall be paid on Wednesday, August 3, 2022, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Saturday, July 16, 2022, which is the Record Date fixed for the purpose.”

Tata Consultancy Services launched as a division of Tata Sons on April 1, 1968, as a management and technology consultancy that would create demand for downstream computer services. FC Kohli, a brilliant technocrat, was brought in from the Tata Electric Companies as a General Manager to run this start up. It has been recognized as a Global Top Employer by the Top Employers Institute – one of eight organizations worldwide to have achieved this status.

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