Buy this software stock for a 10% gain, for an ex-dividend in 2 weeks for a solid Rs 45 per share
1. Tech Mahindra Stock Outlook
The current market price of Tech Mahindra is Rs 1020 each. It hit a 52-week high and low at Rs 1838 each and Rs 890 each, respectively. Today it gained 1.07% in trade.
Currently, it is trading at a 44% discount to its highs. The stock’s PE is 17.84, which is lower than the sector’s PE of 28.39. EPS is recorded at 57.23 and the dividend yield is 4.41%. The market capitalization of Mahindra Technology Ltd is 99,274 crores. It is a company with a high EPS TTM. Additionally, brokers have improved the recommendation or target price for the stock.
2. Tech Mahindra Q4 Results
For the quarter ended 31 March 2022, Tech Mahindra reported consolidated total revenue of Rs 12,436.08 Crore, up by 6.53% from the previous quarter’s total revenue of Rs 11,673.90 Crore. It announced a net profit after tax of Rs 1545 Crore in the last quarter.
3. Tech Mahindra will pay 300% of the final dividend and 300% of the special dividend
Tech Mahindra declared a final dividend of 300% and a special dividend of 300% on May 13, 2022. The board of directors of Tech Mahindra in the filing dated May 13, 2022 said: “The board of directors has recommended a final dividend of Rs. 15/- per share and a special dividend of Rs 15/- per share on a par value of Rs.5/- (600%) for the year ended 31 March 2022, subject to approval by the members of the Company at the next Annual General Meeting The final dividend, if approved, will be paid by August 9, 2022. This dividend is in addition to the special dividend of Rs 15/- per share paid under form of interim dividend in November 2021. The total dividend for the financial year 2021 -22 will be Rs. 45/- per share on the nominal value of Rs.5/- (900%).”
Ex-dividend date: The ex-dividend date is July 21, 2022.
4. Tech Mahindra Ltd Dividend History
Tech Mahindra has a good dividend history and has consistently declared dividends over the past 5 years. The company has declared a dividend 23 times since 2007, according to Dion Global Solutions Limited. And, Tech Mahindra has declared a 900% stock dividend for the year ending March 2022, or Rs 45 per share, which is a solid dividend.
5. About Tech Mahindra Company
It was established in 1986. The Large Cap company operates in the computer software sector. The current market capitalization of Tech Mahindra is Rs 99,274 core at the time of writing the report. Tech Mahindra is the only Indian company in the world to have been awarded the Terra Carta Seal by HRH The Prince of Wales for its commitment to creating a sustainable future. It has become the fastest growing brand in terms of “brand strength” and among the top 7 IT brands in the world, according to its website.
The stock was recommended by BNP Paribas. Greynium Information Technologies, the author, and the brokerage are not responsible for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before making any investment decision.