Elara Capital downgraded TCS to ‘accumulate’ from ‘buy’ and cut its target price, citing weak FY26 revenue outlook, subdued discretionary spending, and macro headwinds. Q1FY26 revenue and margins disappointed, while India business plunged sharply. Despite challenges, AI-led services showed traction, with 114,000+ employees trained in advanced AI skills.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets