TCS · NSE
Tata Consultancy Services Limited
₹2,105
-3.88% (-₹85)
Prev. close
₹2,190
Volume
68,75,428
Delivery %
57.8%
As of
18 Sept 2026
Price history
Motilal Oswal Analysis · Motilal Oswal Financial Services · 10 Jul 2026
“Maintains a 'buy' recommendation on TCS with a price target of ₹2,350, indicating a 15% upside. While short-term commentary is better than anticipated, long-term uncertainties persist, with scant evidence of demand improvement. The firm expects Q2 to be better but believes the full impact of AI deflation and productivity gains passed to clients will pressure the existing book of business, though sees limited downside for now based on FY27-28 organic constant currency growth assumptions.”
Published mid-session at 09:20 IST. Tracking counts only prices printed after publication — the chart's dashed divider marks that moment; earlier prices never count toward entry or results.
Analyst sentiment
Analysts lean bullish
18 analyst stances · last 90 days · one per analyst
Trackable
12 · 8 bull / 3 neutral / 1 bear
Long-Horizon
none in window
Commentary
6 · 1 bull / 2 neutral / 3 bear
Trackable = verdict-bearing calls · Long-Horizon = 1yr+ horizon, verdict pending · Commentary = context, not graded
Analyst opinions
| Call | Analyst | Instrument | Verdict | Actions | |||
|---|---|---|---|---|---|---|---|
| “Recommends buying TCS at ₹2342 with a target of ₹2570 and a stop loss at ₹2240. The stock is consolidating after a recov…” | Sumeet BagadiaChoice Equity Broking | TCS | PENDING | ||||
| “Bullish on TCS's acquisition of MHP, viewing it as a better use of capital than holding cash, with potential for higher …” | Sandip AgarwalSowilo Investment Managers | TCS | PENDING | ||||
| “Maintained a 'Hold' rating on TCS, raising its target price to ₹2,350. The brokerage views the MHP acquisition as strate…” | Systematix AnalysisSystematix Institutional Equities | TCS | PENDING | ||||
| “Has a 'sell' rating on TCS with a target price of ₹1,825, implying a 20% downside. While the deal may appear to have a l…” | Citi AnalysisCitigroup Inc. | TCS | PENDING | ||||
| “Maintains a 'hold' rating on TCS with a target price of ₹2,350, indicating a 3% upside. The MHP acquisition addresses TC…” | HSBC AnalysisHSBC | TCS | PENDING | ||||
| “Has an 'add' rating on TCS with a target price of ₹2,450, representing a 7.4% upside. The acquisition of MHP is seen as …” | Kotak Institutional Equities AnalysisKotak Institutional Equities | TCS | PENDING | ||||
| “Neutral on TCS, downgrading to 'Add' from 'Buy' due to a sharp rally in stock prices from recent lows. The price target …” | Kotak Institutional Equities AnalysisKotak Institutional Equities | TCS | PENDING | ||||
| “Downgraded TCS to 'Hold' with a revised target price of ₹2,326 (2% upside) from ₹2,165, citing structural concerns despi…” | CLSA AnalysisCLSA | TCS | PENDING | ||||
| “CLSA has downgraded TCS to 'hold' from 'outperform', maintaining a price target of ₹2,326. The brokerage expects a long …” | CLSA AnalysisCLSA | TCS | PENDING | ||||
| “Added Tata Consultancy Services (TCS) to its model portfolio with a 150 bps weight, seeing an 18% upside to its 12-month…” | Kotak Institutional Equities AnalysisKotak Institutional Equities | TCS | PENDING | ||||
| “Bullish on Tata Consultancy Services (TCS) with a target price of Rs 3,052, indicating a potential upside of 48.9% over …” | InCred Equities AnalysisInCred Equities | TCS | PENDING | ||||
| “Maintains a Buy rating on TCS with a target price of ₹2,350, indicating a 15% upside. While management expects demand to…” | Motilal Oswal AnalysisMotilal Oswal Financial Services | TCS | PENDING | ||||
| “Upgraded TCS to Buy with a target price of ₹2,580, implying a 26% upside. Management commentary points to a gradual dema…” | Dolat Capital AnalysisDolat Capital | TCS | PENDING | ||||
| “Maintains 'Buy' rating on TCS with a target price of ₹2,350, implying a 15% upside. While management expects demand to i…” | Motilal Oswal AnalysisMotilal Oswal Financial Services | TCS | PENDING | ||||
| “Maintains 'Equal Weight' rating on TCS with a target price of ₹2,200, implying a 7% upside. Q1FY27 performance was in li…” | Morgan Stanley AnalysisMorgan Stanley India | TCS | PENDING | ||||
| “Maintains 'Buy' rating on TCS with a target price of ₹3,000, implying a 46% upside. Despite elusive growth, the company …” | Nuvama AnalysisNuvama Alternative & Quantitative Research | TCS | PENDING | ||||
| “Reiterates 'Add' rating on TCS with a target price of ₹2,600, implying a nearly 27% upside. Despite a soft Q1 performanc…” | Emkay Global Financial Services AnalysisEmkay Global Financial Services | TCS | NOT GRADED | ||||
| “Maintains 'Sell' rating on TCS and cut its target price to ₹1,825 from ₹1,965, implying an 11% downside. This is due to …” | Citi AnalysisCitigroup Inc. | TCS | NOT GRADED | ||||
| “Maintains an 'overweight' recommendation on TCS with a price target of ₹2,400. The Q1 results met recently downgraded ex…” | Morgan Stanley AnalysisMorgan Stanley India | TCS | NOT GRADED | ||||
| “Maintains a 'buy' recommendation on TCS with a price target of ₹2,350, indicating a 15% upside. While short-term comment…” | Motilal Oswal AnalysisMotilal Oswal Financial Services | TCS | NOT GRADED | ||||
“Maintains a 'buy' recommendation on TCS with a price target of ₹2,350, indicating a 15% upside. While short-term commentary is better than anticipated, long-term uncertainties persist, with scant evidence of demand improvement. The firm expects Q2 to be better but believes the full impact of AI deflation and productivity gains passed to clients will pressure the existing book of business, though sees limited downside for now based on FY27-28 organic constant currency growth assumptions.” This call couldn't be objectively graded against market data. | |||||||
| “Maintains an 'equal-weight' rating on TCS with a price target of ₹2,200. A better-than-feared Q2 outlook should alleviat…” | Morgan Stanley AnalysisMorgan Stanley India | TCS | NOT GRADED | ||||
| “Centrum Broking maintains a 'Buy' rating on TCS, revising its target price to ₹3,480 (from ₹3,841) by rolling forward va…” | Centrum Broking AnalysisCentrum Broking | TCS | PENDING | ||||
| “Downgraded TCS to equal-weight, citing that the stock's premium to Accenture has risen above 40%, which puts the group's…” | Morgan Stanley AnalysisMorgan Stanley India | TCS | MISS | ||||
| “TCS is expected to deliver a potential upside of 31% over the next 12 months, with an average target price of Rs 2,742 f…” | ETMarkets AnalysisETMarkets.com | TCS | PENDING | ||||
Market commentary · 9 · levels, conditionals, previews, macro & hedged views — context, not graded
| Call | Analyst | Instrument | Verdict | Actions |
|---|---|---|---|---|
| “CLSA downgraded Tata Consultancy Services (TCS), Infosys, and Tech Mahindra to 'Hold' and Wipro and Mphasis to 'Underper…” | CLSA AnalysisCLSA | TCS | PENDING | |
| “Maintains a firmly bearish technical stance on TCS. A trend reversal requires either a convincing break above the ₹2,300…” | Harshal DasaniINVasset PMS | TCS | NOT GRADED | |
| “Neutral on TCS, noting that while its valuation at 13x FY27 price-to-earnings is undemanding after a 40% drop from its 5…” | Emkay Global Financial Services AnalysisEmkay Global Financial Services | TCS | PENDING | |
| “Bearish on TCS's topline growth despite double-digit sequential AI revenue growth, as 'leakages' in traditional business…” | PL Capital AnalysisPL Capital | TCS | PENDING | |
| “Bullish on TCS, projecting a 46% upside, as the company continues to deliver on margins and deal wins. Nuvama expects gr…” | Nuvama AnalysisNuvama Alternative & Quantitative Research | TCS | PENDING | |
| “Maintains a 'Buy' rating on TCS, seeing up to 46% upside potential. This positive outlook follows TCS's Q1FY27 consolida…” | Nuvama AnalysisNuvama Alternative & Quantitative Research | TCS | PENDING | |
| “Maintains a 'Buy' rating on TCS, seeing up to 46% upside potential. This positive outlook follows TCS's Q1FY27 consolida…” | Motilal Oswal AnalysisMotilal Oswal Financial Services | TCS | PENDING | |
| “TCS remains under pressure before Q1 results, trading below key moving averages. Investors should watch the 1,985-2,000 …” | Virat JagadBonanza Portfolio | TCS | NOT GRADED | |
| “Downgraded TCS to equal-weight due to its premium to Accenture rising above 40%, which poses valuation risks for the bro…” | Morgan Stanley AnalysisMorgan Stanley India | TCS | PENDING |
Fundamentals
About Tata Consultancy Services Limited
Tata Consultancy Services Limited provides information technology (IT) and IT enabled services. It offers TCS ADD, a suite of AI powered life sciences platforms; TCS BaNCS, a financial services platform; TCS BFSI Platforms, a cloud-native, subscription-based as-a-service digital ecosystem for insurers and financial firms; TCS Chroma, a cloud-based AI-led hire-to-retire modular platform; TCS Customer Intelligence & Insights, an AI-powered, real-time customer data analytics solution; TCS ERP on Cloud, SAP transformation with AI-powered smart solutions; ignio, a cognitive automation software product; TCS iON, a learning ecosystem; and TCS HOBS, a cloud-native, catalog-centric platform with composable architecture and insights-led personalization capabilities. It also offers TCS Intelligent Urban Exchange for enterprises and smart cities; TCS OmniStore, a retail commerce platform; TCS Optumera, a strategic intelligence platform; TCS Tap, a platform for intelligent procurement; Quartz, a distributed ledger technology; TCS TwinX, a risk-free experimentation platform; TCS MasterCraft, an AI-driven cognitive automation product; Jile, an enterprise agile planning and delivery tool; TCS DigiBOLT, an end-to-end, organization-wide enterprise platform; and TCS AI WisdomNext, an enterprise grade GenAI platform. In addition, the company provides AI, data and analytics, cloud, cognitive business, consulting, cybersecurity, enterprise solutions, industrial autonomy and engineering, network solutions and services, TCS interactive, and sustainability services. It serves banking; capital markets; consumer packaged goods and distribution; communications, media, and information services; education; energy, resources, and utilities; healthcare; high tech; insurance; life sciences; manufacturing; public services; retail; and travel and logistics industries. The company was founded in 1968 and is based in Mumbai, India. The company operates as a subsidiary of Tata Sons Private Limited.
Details
Sector
Technology
Industry
Information Technology Services
CEO
Mr. K. Krithivasan B.E, M.Tech.
Headquarters
Mumbai
Employees
5,84,519
Website
tcs.comExchange
View on NSE ↗Key stats
Market cap
₹7.92 L Cr
P/E ratio (TTM)
15.9
Dividend yield
2.97%
EPS (TTM)
₹137.68
Beta (1Y · daily vs NIFTY 50)
0.82
Beta (5Y · monthly vs NIFTY 50)
0.99
Shares float
101.93 Cr
EPS · quarter ended Jun 2026
₹36.90
Upcoming earnings
08 Oct 2026
Financial Performance
01 · Financials
FY21 growth needs FY20 filings, which the data source doesn't provide.
02 · Earnings Per Share (EPS)
03 · Dividend Profile
Growth compares completed fiscal-year dividend totals on the company's own calendar: April–March (Indian FY), taken from its reported period-ends. Payout ledger: NSE corporate actions.
04 · Operating Efficiency (Growth Rates)
Balance-sheet-based · pre-FY23 not filed in verifiable form
05 · Capital Structure & Asset Utilization
Pre-FY23 not filed in verifiable form
Asset turnover needs a prior year of assets — omitted for the earliest available year.
06 · Asset Base Composition
Pre-FY23 not filed in verifiable form
07 · Debt Level & Coverage
Pre-FY23 not filed in verifiable form
08 · Profit & Loss
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹1.64 L Cr | ₹1.92 L Cr | ₹2.25 L Cr | ₹2.41 L Cr | ₹2.55 L Cr | ₹2.67 L Cr | |
| EBITDA | ₹48,462.00 Cr | ₹57,075.00 Cr | ₹62,708.00 Cr | ₹67,760.00 Cr | ₹71,369.00 Cr | ₹72,274.00 Cr |
| ₹32,430.00 Cr | ₹38,327.00 Cr | ₹42,147.00 Cr | ₹45,908.00 Cr | ₹48,553.00 Cr | ₹49,210.00 Cr | |
| Diluted EPS | ₹86.71 | ₹103.62 | ₹115.19 | ₹125.88 | ₹134.19 | ₹136.01 |
09 · Balance Sheet
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹1.31 L Cr | ₹1.42 L Cr | ₹1.44 L Cr | ₹1.45 L Cr | ₹1.59 L Cr | ₹1.81 L Cr | |
| ₹7,795.00 Cr | ₹7,818.00 Cr | ₹7,688.00 Cr | ₹8,021.00 Cr | ₹9,392.00 Cr | ₹11,283.00 Cr | |
| Stockholders' equity | ₹86,433.00 Cr | ₹89,139.00 Cr | ₹90,424.00 Cr | ₹90,489.00 Cr | ₹94,756.00 Cr | ₹1.07 L Cr |
Annual only — the data source doesn’t publish quarterly balance-sheet detail for most NSE-listed companies.
10 · Cash Flow Statement
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹38,802.00 Cr | ₹39,949.00 Cr | ₹41,965.00 Cr | ₹44,338.00 Cr | ₹48,908.00 Cr | ₹52,094.00 Cr | |
| Investing cash flow | ₹-8,129.00 Cr | ₹-897.00 Cr | ₹39.00 Cr | ₹6,026.00 Cr | ₹-2,318.00 Cr | ₹-12,845.00 Cr |
| ₹-32,634.00 Cr | ₹-33,581.00 Cr | ₹-47,878.00 Cr | ₹-48,536.00 Cr | ₹-47,438.00 Cr | ₹-42,133.00 Cr | |
| Capital expenditure | ₹3,075.00 Cr | ₹2,995.00 Cr | ₹-2,532.00 Cr | ₹-2,202.00 Cr | ₹-2,917.00 Cr | ₹-3,670.00 Cr |
| End cash position | ₹6,858.00 Cr | ₹12,488.00 Cr | ₹7,123.00 Cr | ₹9,016.00 Cr | ₹8,342.00 Cr | ₹6,417.00 Cr |
Annual only — the data source has no quarterly cash-flow-statement coverage.
11 · Shareholding Pattern
NSE, quarterly
| Line item | Sep 21–Dec 21(2Q) | Mar 22–Sep 23(7Q) | Dec 23 | Mar 24–Jun 26(10Q) |
|---|---|---|---|---|
| Promoter | 72.19% | 72.30% | 72.41% | 71.77% |
| Public | 27.81% | 27.70% | 27.59% | 28.23% |
| Employee trusts | 0.00% | 0.00% | 0.00% | 0.00% |
Source: NSE quarterly shareholding-pattern filings, collapsed to periods where the reported percentages held steady — a column spanning several quarters means no change was filed across them. No FII/DII sub-split available from this source — Public includes all non-promoter, non-employee-trust holders.
12 · Peer Comparison
Technology
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| Tata Consultancy Services Limited | ₹7.92 L Cr | ₹2,105 | 15.9 | 7.39 | 45.9% | 0.11 | +4.6% | -33.7% |
| Infosys Limited | ₹4.20 L Cr | ₹1,037.7 | 13.5 | — | 33.9% | 0.10 | +4.6% | -31.2% |
| HCL Technologies Limited | ₹3.40 L Cr | ₹1,249.3 | 19.5 | 4.53 | 22.1% | 0.07 | +11.2% | -16.4% |
| Wipro Limited | ₹1.65 L Cr | ₹166.4 | 13.5 | 1.86 | 14.9% | 0.23 | +4.0% | -34.5% |
| Tech Mahindra Limited | ₹1.38 L Cr | ₹1,537.1 | 27.0 | 4.67 | 16.2% | 0.07 | +7.2% | -0.9% |
| LTM Limited | ₹1.26 L Cr | ₹4,275.1 | 24.2 | 5.26 | 20.9% | 0.10 | +11.3% | — |
| One 97 Communications Limited | ₹1.13 L Cr | ₹1,849.9 | 175.9 | 7.05 | 3.5% | 0.01 | +21.5% | +50.5% |
| LG Electronics India Limited | ₹1.11 L Cr | ₹1,652.9 | 60.6 | 14.42 | 22.0% | 0.06 | +1.3% | — |
| Oracle Financial Services Software Limited | ₹1.01 L Cr | ₹11,896 | 29.7 | 12.93 | 33.7% | 0.00 | +12.1% | +29.7% |
| Persistent Systems Limited | ₹85,505.25 Cr | ₹5,416 | 44.7 | 10.91 | 23.8% | 0.06 | +23.5% | -2.7% |
| Dixon Technologies (India) Limited | ₹80,805.72 Cr | ₹13,005 | 43.3 | 17.28 | 30.8% | 0.21 | +25.8% | -29.1% |
| Coforge Limited | ₹79,425.97 Cr | ₹1,841 | 36.8 | 8.33 | 16.3% | 0.08 | +35.8% | +0.9% |
Ranked by market cap within Technology, same metrics as the Fundamentals screener. Click a column to sort.
Documents
Annual reports
Show all 22
Concall transcripts
Show all 12
Official documents linked from their sources — offer documents as filed with SEBI (sebi.gov.in), annual reports and earnings-call transcripts as published on BSE (bseindia.com) and NSE (nseindia.com). Links open the source's own hosting; nothing is re-hosted here.
Index membership
75 indices
NSE weights are a free-float market-cap-share estimate, not NSE’s own published (and sometimes capped) index weight. BSE weights are BSE’s own published index weight, not an estimate. Indices without weight data are listed without one, in alphabetical order after the weighted ones.