Motilal Oswal maintains buy on TCS at ₹2,400, $7.6B Q2

Business Oct 09, 2026

Motilal Oswal is still backing Tata Consultancy Services (TCS) with a buy call and a price target of ₹2,400.

For the second quarter of FY27, TCS pulled in $7.6 billion in revenue, up slightly from last quarter, thanks to strong results in manufacturing, hi-tech, and BFSI sectors.

TCS EBIT margin steady at 24%

While manufacturing, hi-tech, and BFSI grew over 2% each this quarter, regional markets and consumer business slipped a bit.

Even so, TCS kept its EBIT margin steady at 24%, just shy of expectations.

TCS $9.6B deals, H1 revenue +12.6%

TCS signed new deals worth $9.6 billion this quarter, a small bump from last time but down compared to last year.

For the first half of FY27 overall, revenues rose 12.6%, EBIT was up 8.7%, and adjusted PAT climbed 8.1% year-on-year.