TCS Q2 results 2026 today: Tata Consultancy Services (TCS) is all set to kickstart the Q2 earnings season, as India’s largest IT company is all set to announce its financial results for the quarter ending on 30 September 2026.
TCS share price rose as much as 3% on NSE ahead of the announcement. The IT stock opened at ₹2,104 per share, as compared to previous close of ₹2,080.30 on Wednesday and touched an intraday high of ₹2,141.50 on 8 October.
TCS Q2 results 2026 preview
According to Seema Srivastava, Senior Research Analyst at SMC Global Securities, TCS is likely to deliver stable Q2FY27 results, supported by seasonal factors, resilient operational efficiency and strong deal wins, including large contracts from BSNL, MHP and Metro. However, modest constant-currency growth could remain under pressure due to geopolitical uncertainties and softer demand during the middle of the quarter.
Srivastava said TCS remains well positioned as a long-term wealth creator, supported by its strong balance sheet, high employee utilisation and growing exposure to large-scale cloud and GenAI migration opportunities. While cautious discretionary spending continues to weigh on near-term growth, the recent correction in valuations, along with consistent shareholder returns, strengthens the stock’s defensive appeal amid ongoing macroeconomic uncertainty.
Meanwhile, brokerage firm Kotak Institutional Equities expects revenue to grow a modest 0.5%, led by the international business. The brokerage has not factored in any revenue contribution from the new BSNL contract in its estimates.
The brokerage also projects a 100 basis points year-on-year (YoY) decline in margins, while expecting them to remain stable on a quarter-on-quarter (QoQ) basis. The annual margin contraction is attributed to wage hikes, the impact of acquisitions and continued pricing pressure. However, EBIT margins typically improve in the quarter following annual wage revisions, which is expected to support sequential margin stability.
TCS share price – Should you buy ahead of the announcement?
Mahesh M Ojha, VP Research & Business Development at Kantilal Chhaganlal Securities, believes that TCS continues to remain in a bearish trend, and at current levels, investor should avoid fresh buying.
He further recommended investors should wait for a stronger-than-expected result or a positive trigger before considering an entry.
“On the downside, the stock has support at ₹2,068, followed by ₹2,058 and ₹2,040. On the upside, resistance is seen at ₹2,098, ₹2,115 and ₹2,130. A sustained close above ₹2,140 could improve the setup and open the way towards ₹2,175. Until then, it would be prudent to remain cautious and wait for confirmation of a trend reversal,” Ojha said.
On the other hand, Srivastava said that for investors with a multi-year horizon, accumulating quality market leaders during macro lulls offers strong compounding potential as global technology budgets gradually normalize and enterprise modernization cycles accelerate.
TCS share price performance
TCS share price has shown some recovery in the near term, gaining 2.60% over the past week. However, the stock remains under pressure over the one-month period, declining 5.61%.
On a broader timeframe, TCS has delivered a weak performance. The stock is down 34.04% year-to-date and has declined 29.67% over the past one year.
The stock has also remained under pressure over the medium and long term, falling 41.21% in the past three years and 45.91% over five years.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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