TCS Shares May Rally 36% Says Motilal Oswal After Q3 Results — Check Target Price

TCS reported revenue of $7.5 billion in Q3 FY26, rising 0.8% QoQ in constant currency terms, above Motilal Oswal's estimate of 0.5%. Growth was led by regional market and others (up 4.6% QoQ CC).NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Motilal Oswal Report.Motilal Oswal has maintained its Buy rating on Tata Consultancy Services Ltd. with a target price of Rs 4,400, implying an upside of ~36% from current levels. The brokerage expects USD revenue and EPS to compound at ~3.6% and ~7.6% respectively over FY25–28, supported by steady growth in select demand pockets and reasonable deal visibility, despite continued volatility in deal closures.Margins have remained stable as wage headwinds and one-offs subside, with further upside contingent on execution rather than pricing. Motilal Oswal has kept its estimates largely unchanged, valuing TCS at 26x FY28E EPS..TCS reported revenue of $7.5 billion in Q3 FY26, rising 0.8% QoQ in constant currency terms, above brokerage's estimate of 0.5%. Growth was led by regional market and others (up 4.6% QoQ CC). Consumer business/energy, resources, and utilities/life sciences and healthcare grew 1.3%/1.0%/0.9% QoQ CC. Ebit margin was 25.2% (flat QoQ), above estimate of 24.9%. Adjusted PAT rose 6.4% QoQ/13.4% YoY stood at Rs 141 billion (above our estimate of Rs 131 billion). This excludes one-off restructuring and the statutory impact of new labor laws expenses of Rs 34 billion. For 9MFY26, revenue/Ebit/adjusted net profit grew 2.9%/5.2%/10.1% in INR terms compared to 9M FY25. Motilal Oswal expect revenue/Ebit/Adj. PAT to grow 6.8%/10.8%/10.9% YoY in Q4 FY26. TCS reported a deal TCV of $9.3 billion, down 8.8% YoY. The book-to-bill ratio was stable at 1.2x..Click on the attachment to read the full report:.TCS At Inflection Point As AI Becomes Core Engine, Says IDBI Capital After Q3 Results — Check Target Price.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

TCS Shares May Rally 36% Says Motilal Oswal After Q3 Results — Check Target Price

Motilal Oswal has kept its estimates largely unchanged, valuing TCS at 26x FY28E EPS.

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