Maintains a Buy rating on TCS with a target price of ₹2,350, indicating a 15% upside. While management expects demand to improve in Q2, growth is anticipated from select pockets rather than a broad-based pickup. Q1FY27 commentary was better than expected, despite a lowered FY27 margin estimate due to continued AI investments.

Motilal Oswal Analysis’s track record: 6 graded calls · 95% CI 19–81%

TCSBullishCalled 10 Jul 2026
Verdict:PENDING

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