Information Technology (IT) giants Tata Consultancy Services, Infosys and HCL Tech will consider paying final dividend for the financial year 2021-22 (FY22) along with declaring the fourth quarter results.
Infosys said its board will meet on 12 April and 13 April to take on record the financial results for the quarter ended March as well as for the full fiscal year. The board will also consider paying final dividend during the meeting.
Meanwhile, TCS’ board will meet on 11 April to approve and take on record the audited financial results of the company for Q4 and year ending March. The company will also consider declaring dividend while announcing the results.
HCL Technologies Ltd said its board will meet on 20-21 April to approve the results and also declare an interim dividend for the current financial year (FY23). The company has fixed 29 April as the record date for determining the entitlement of the shareholders for the payment of interim dividend.
Recently, bellwether company Accenture forecast third-quarter revenue above estimates with growing demand for cloud and security-related services as more and more businesses move to a hybrid work model.
New bookings for the second quarter stood at $19.6 billion, lifted by demand for its cloud and security-related services as more businesses transform to hybrid work model.
Revenue for the second quarter stood at $15.05 billion, compared with analysts’ average estimate of $14.65 billion, as per the Refinitiv IBES data.
On Friday, TCS shares closed 0.51% higher at ₹3,759 apiece on NSE. In the March quarter, the stock is down marginally, close to 2%, as against a drop of 6.09% in the Nifty IT index.
Infosys shares too have been muted in the three months ending March, rising marginally, while Wipro and HCL Tech dropped 16.13% and 11.53% respectively during the same period.