“Bullish on TCS, projecting a 46% upside, as the company continues to deliver on margins and deal wins. Nuvama expects growth to recover over the next few quarters, driven by an improving macro environment and gradual increase in GenAI-related spending, noting the stock's attractive valuation at 13x FY27E PE after a 36% correction CYTD.”

Nuvama Analysis’s track record: 4 graded calls · 95% CI 15–85%