TATA Stock: 1st-ever Rs 10.05 DIVIDEND per share; BUY?

Tata Technologies Share Price Target: Shares of Tata Group's product engineering company, Tata Technologies, will remain in focus today as the company posted their quarterly results on Friday. The company had posted their quarterly results after market hours.

Tata Technologies Limited is a multinational product engineering company based in India that offers services to industrial machinery companies, automotive and aerospace original equipment manufacturers, and IT service management in the areas of engineering and design, product lifecycle management, manufacturing, and product development.

Global brokerages JP Morgan and BofA have shared their outlook on the Tata Group's stocks following their financial results.

Tata Technologies Q4 Quarterly Results 2024

Tata Technologies' reported a 7.6 per cent decline in its net profit in Q4FY24 to Rs 157.2 crore versus Rs 170.2 in the October-December 2023 quarter. Tata Technologies’ revenue stood at Rs 1301 crore, up from Rs 1289 crore reported in the previous quarter. The company's EBITDA stood at Rs 240 crore, up 1.4 percent from Rs 236.6 crore while its EBIT stood at 18.4 per cent versus 18.3 per cent.

Tata Technologies Share Price Target 2024

JPMorgan on Tata Tech

Global brokerage firm JPMorgan has maintained an Underweight rating on the Tata Tech stock. Commenting on the company's Q4 results, the brokerage said that revenues beat, margins in line. "Vinfast will bottom out in Q1, weak exit a challenge for FY25 growth," said JP Morgan.

JPMorgan has set the price target of Tata Technologies' stock at Rs 800.

BofA on Tata Tech

Brokerage firm BofA has maintained a Buy rating on the Tata Tech stock. "Q4: Miss on headline but solid breadth of growth," said the brokerage as expected the Growth to reaccelerate in FY25. BofA believes that the current pace of EV adoption is not a concern. "Tailwinds in ER&D, FY25 prospects to drive stock returns," said the brokerage.

BofA has set the price target of Tata Tech stock at Rs 1,250.

Tata Technologies Dividend 2024

Tata Group's company has announced a final as well as special dividend of 502.5 per cent, which translates to a payout of Rs 10.05 on a face value of Rs 2. This is the first ever dividend announcement by the Tata Technologies post their listing on the bourses.

“Recommend a final dividend of Rs 8.40 and special dividend of Rs 1.65 per Equity share of Rs 2 each,” said the company in the exchange filing.

Tata Technologies Share Price History

Tata Technologies is a constituent of S&P BSE MidCap index on the BSE. According to BSE analytics, the company's stock price has advanced 1.26 per cent in the last one week and 4.30 per cent in the last two weeks, while it dropped 4.25 per cent in the last one month and 1.15 per cent in the last three months.

Shares of Tata Technologies have a 52-week range of Rs 1,400 - Rs 1,020 on the BSE.