775% DIVIDEND: NIFTY 50 TATA STOCK GETS RS 171.83 CR TAX DEMAND NOTICE - BUY, SELL OR HOLD?

Tata Consumer Share Price News: Shares of Tata Consumer Products Limited will be in focus on Thursday i.e. July 4 after the company received an income tax demand of Rs 171.83 crore for the assessment year 2019-20. The Ratan Tata-owned company said that “demand is not maintainable and it is in the process of preferring an appeal and rectification against the said order”. In the fourth quarter that ended March 31, Tata Consumer Products' net profit dropped 19.3 per cent to Rs 217 crore.

Shares of Tata Consumer Products Limited opened in green on Thursday at Rs 1147.55 vs the previous closure of Rs 1146.35. Around 10:19 am, shares of the company traded at Rs 1150.05 apiece, up 0.32 per cent. More than 6.32 lakh equity shares changed hands at the same time.

Tata Consumer Share Price Target 2024

Morgan Stanley has maintained an Overweight rating with a target price of Rs 1288. The brokerage firm believes that the share price will rise relative to the country index over the next 30 days. It expects the company to deliver an improvement in organic top-line growth. It also added that the market will be willing to pay a premium for this opportunity and sustained growth potential. “Believing improving growth momentum for the business augurs well for stock outperformance,” the brokerage firm said.

Tata Consumer Share Price History

Tata Consumer Products Limited is a component of the BSE 100. According to the BSE analytics (as of July 4), shares of Tata Consumer Products Limited gained by 5.44 per cent and 3.60 per cent in the last 1 week and 2 weeks, respectively. In the last 1 month and 3 months, shares of the Tata Company up by 7.22 per cent and 2.37 per cent. On a YTD basis, shares of the FMCG company rose by 6.12 per cent. In the past 1 year, 2 years, 3 years, 5 years, and 10 years, shares of the company climbed by 33.45 per cent, 59 per cent, 49.92 per cent, 321.91 per cent, 577.05 percent, respectively.

Tata Consumer Dividend History

This year, Tata Consumer Products Limited paid a dividend of Rs 7.75 in May. Last year, the Tata company paid dividend of Rs 8.45. Similarly, in 2020, 2021, and 2022, the FMCG stock announced dividends of Rs 2.7, Rs 4.05, and Rs 6.05 in June, respectively.

Tata Consumer Dividend Yield

At the current market price, the dividend yield of Tata Consumer Products Limited is 0.68 per cent.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

2024-07-04T05:11:54Z dg43tfdfdgfd