In the last 12 months, Tech Mahindra had one of the highest dividend yields on the Street at 4.38% after paying a dividend of Rs 50 per share in the same period. The said interim dividend will be paid on November 21, 2023, to the equity shareholders of the company whose names appear on the register of members of the company or in the records of depositories as beneficial owners of the shares as of the record date.
HDFC Institutional Equities expects profit to come in at Rs 624 crore, down 51.50 per cent YoY. It sees sales for the quarter at Rs 13,090 crore, down 0.3 per cent. Ths brokerage sees Ebit margin at 6 per cent.
The communications vertical is expected to be the weakest during the September quarter. Deal wins are likely to remain soft similar to the previous two quarters, due to weak macro environment and slow decision-making of businesses.
Indian companies such as Bharat Forge, DCX Systems Ltd, L&T, HBL Power Systems Ltd, Tech Mahindra Ltd and Astra Microwave Ltd. have tie-ups with Israel.