TCS Q4, Tata Consultancy Services (TCS), India’s largest IT services company, on Monday recommended a final dividend of ₹22 per equity share of Rs. The proposed final dividend shall be paid on the fourth day of the conclusion of the 27th Annual General Meeting, subject to the approval of the shareholders of the Company.
TCS posted a record hiring addition of 1,03,546 people for the year ending March 2022, employing over 40,000 people in FY2011. The company inducted around 78,000 freshers in FY12, up from 40,000 in the previous year. However, attrition remains a concern for the firm. The company’s attrition increased to 17.4 per cent in the quarter from 8.6 per cent at the beginning of the year and 11.9 per cent in the December 2021 quarter.
TCS reported a consolidated net profit of Rs 9,926 crore for the fourth quarter ended March 2022, registering a growth of 7 per cent year-on-year. On a sequential basis, the increase in profit is 2 per cent. The company had reported a consolidated profit after tax of Rs 9,246 crore in the same quarter last year. Its PAT stood at Rs 9,769 crore in the December quarter.
Shares of Tata Consultancy Services (TCS) was trading flat at Rs 3,701 on BSE in Tuesday’s intra-day trade. The stock touched a high of Rs 3,723.50 and a low of Rs 3,650 so far in BSE intra-day trade. On Monday, it had closed at Rs 3,696.40. In comparison, at 09:37 am, the S&P BSE Sensex was down 0.79 per cent at 58,500 points.
Should you buy stocks?
Motilal Oswal Financial Services remains positive on TCS’s leadership position in the market, with a ‘buy’ rating on the stock and a target price of Rs 4,240. “Given the size, capabilities and portfolio vibe of TCS, it is well positioned to take advantage of anticipated industry growth,” the brokerage firm said.
Prabhudas Lilladher placed a ‘Buy’ call on TCS with a target price of Rs 4,221. “We remain structurally positive on TCS, given its -1) strong growth
Higher base speeds, 2) best in class supply-side metrics with industry-leading margin profiles, and 3) strong customer mining capabilities further enhanced
Customer-centric by the new organization structure. We cut our EPS estimates by ~1.5%/0.8%
Led by a cut in margin estimates for FY23/24. We arrive at a DCF based TP
INR 4,221 (TP of first Rs 4360; implied income target on multiples of 31x
FY24 EPS). TCS is currently at FY23/24 EPS 119.6/136.6 . is trading at 31x/27x
With a Revenue/EPS CAGR of 12.5%/16.2% as compared to FY22-24E.”
Rajesh Palviya, head of technology and derivatives at Axis Securities, said there could be some short-covering in TCS as well as its peers, but not so much in Infosys as investors will focus on the company’s quarterly earnings on Wednesday. He said that the shares of TCS may increase to 3,900-4,000 in the April series.
Disclaimer:Disclaimer: The views and investment tips of experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decision.
read all Breaking News , today’s fresh news And IPL 2022 Live Updates Here.