Investing in Tata stocks in 2024
In 2024, as companies gear up for the announcement of their fourth quarterly results of FY24, attention turns to Tata Group’s flagship company, Tata Consultancy Services (TCS), which is poised to initiate the Group’s Q4 earnings season. Alongside TCS, several other Tata companies are preparing to release their results, sparking investor interest in Tata shares, known for delivering excellent returns and earning shareholders’ trust.
Brokerages are recommending buying shares of numerous Tata companies, with notable mentions of four Tata companies planning to issue final or interim dividends alongside their Q4 earnings reports. Let’s delve into the brokerage recommendations on Tata Group companies’ shares ahead of earnings results, assessing whether these opportunities hold promise for investors.
Tata Motors
Tata Motors Group stands as a prominent global automobile manufacturer within the esteemed multinational conglomerate, the Tata Group. It offers an extensive and diverse lineup of vehicles, encompassing cars, SUVs, trucks, buses, and defense vehicles, tailored to meet the needs of various markets across the globe.
In March 2023, Tata Motors announced an equity dividend of 100.00%, totaling Rs 2 per share.
Previous Close (As on 10/04.2024) – ₹ 1014
Target Price- ₹ 1133
Tata Consultancy Services Ltd
Tata Consultancy Services, a cornerstone of the Tata group, stands as its flagship company. With a wealth of over 50 years of experience, TCS specializes in providing IT services, consulting, and comprehensive business solutions. It has been pivotal in guiding numerous global enterprises through transformative journeys. TCS provides a comprehensive range of services and solutions, blending consultancy, cognitive capabilities, and integrated business and technology expertise.
In March 2023, Tata Consultancy Services declared an equity dividend of 11500.00%, equivalent to Rs 115 per share.
Previous Close (As on 10/04.2024) – ₹ 3,985
Target Price- ₹ 4750
Tata Steel Ltd
Established in 1907, Tata Steel Ltd holds the distinction of being Asia’s inaugural integrated private steel company. It boasts a comprehensive presence throughout the steel manufacturing value chain, encompassing everything from mining and processing iron ore and coal to the production and distribution of finished products.
In the preceding fiscal year (FY2023-2024), Tata Steel Ltd announced a dividend of ₹3.60 per share, distributed once.
Previous Close (As on 10/04.2024) – ₹ 165
Target Price- ₹ 200
Tata Elxsi Ltd
Tata Elxsi Ltd is a leading global provider of design and technology services, catering to various sectors including Automotive, Media, Communications, and Healthcare. It delivers comprehensive solutions encompassing research, strategy, electronics and mechanical design, software development, validation, and deployment. Supported by a network of design studios, global development centers, and offices worldwide, Tata Elxsi stands at the forefront of innovation and excellence.
Tata Elxsi distributed a substantial dividend of Rs 60.60 per equity share.
Previous Close (As on 10/04.2024) – ₹ 7,847
Target Price- ₹ 8,300
Tata Power Company Ltd
Tata Power Company Ltd focuses primarily on generating, transmitting, and distributing electricity, with a strong emphasis on renewable sources. It strives to achieve complete electricity generation from renewable sources. Additionally, it manufactures solar roofs and has ambitious plans to establish 100,000 EV charging stations by 2025. Being India’s largest vertically integrated power company, it holds a crucial position in shaping the nation’s energy sector.
Tata Power Company Ltd has announced a dividend of ₹2 with an ex-date of June 07 2024, and a payment date of June 21 2024.
Previous Close (As on 10/04.2024) – ₹ 431.95
Target Price- ₹ 550
Tata Communications Ltd
Tata Communications, originally incorporated as VSNL on March 19, 1986, underwent a significant transformation. In February 2002, the Government of India divested 25% of its stake in the company as part of its disinvestment plan, transferring ownership to a strategic partner. Subsequently, Tata took over administrative control of the company. Today, Tata Communications stands as a premier global digital ecosystem enabler, holding a leadership position in emerging markets and boasting a worldwide infrastructure. It specializes in delivering managed solutions to multinational companies and service providers, collaborating with 300 of the Fortune 500 companies. Its offerings encompass a diverse array of cutting-edge solutions, including communication, collaboration, cloud, mobility, connected solutions, network, and data center services.
In the preceding fiscal year (FY2023-2024), Tata Communications Ltd announced a dividend of ₹21 per share, distributed once.
Previous Close (As on 10/04.2024) – ₹ 1945
Target Price- ₹ 2100
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. FINOSTRY suggests its readers/audience to consult their financial advisors before making any money related decisions.)