Archive · 8 Oct 2026
TCS Shares May Open Slightly Higher After Q2 Results
Tata Consultancy Services reported its results for the quarter ending in September.
Its revenue was a little higher than experts had expected.
Tushar Badjate thinks the shares may start Friday a little higher, but he does not expect a big move.
He estimated the shares could trade between ₹2,080 and ₹2,200 that day.
The company signed $9.6 billion worth of deals during the quarter.
Its annualised revenue from AI-related work is now more than $3 billion.
Badjate said that AI growth is not yet making up for weakness in older parts of the business.
He thinks the shares could be valued more highly if AI growth becomes larger than the decline in that older business.
Tata Consultancy Services slightly exceeded Street estimates for revenue in the September quarter.
Director Tushar Badjate expects a flat-to-slightly-positive opening and range-bound trading on Friday, October 9.
Badjate sees ₹2,080–₹2,200 as a possible Friday trading range and is watching ₹2,000 as support.
TCS signed $9.6 billion in deals during the quarter, while annualised AI revenue exceeded $3 billion.
Badjate says AI growth could support a stock re-rating if it outpaces declines in the legacy business.
- Who
- Tata Consultancy Services and market analyst Tushar Badjate.
- What
- TCS reported Q2 results, and Badjate shared expectations for its shares in the next trading session.
- When
- Results were reported Thursday, October 8; the forecast is for Friday, October 9.
- Where
- TCS is headquartered in Mumbai; the share-price forecast concerns trading on Friday.
- Why
- Investors are assessing the results, deal wins, and whether AI growth can offset weakness in legacy business.
Potential positives
Risks and constraints
AI and business growth
Potential positives
TCS's annualised AI revenue exceeded $3 billion, and AI growth could become a trigger for a stock re-rating.
Risks and constraints
Badjate said AI is not yet adding to overall business growth because it is eating into older business; he estimated non-AI business declined by about $85–90 million in the quarter.
Near-term share performance
Potential positives
Badjate expects a flat-to-slightly-positive opening and sees ₹2,000 as a support level.
Risks and constraints
He does not expect fireworks and anticipates range-bound trading, with a possible Friday range of ₹2,080–₹2,200.
- Quarter
- September quarter of financial year 2026–27
- Deal value
- $9.6 billion signed during the quarter
- Annualised AI revenue
- More than $3 billion, and over 10% of total revenue
- Friday forecast
- Flat to slightly positive opening; range-bound trading
- Estimated Friday range
- ₹2,080–₹2,200, according to Tushar Badjate
- Technical level watched
- ₹2,000 support; Badjate said ₹2,250–₹2,300 may be possible over the next few months if it holds
- Analyst's view on re-rating
- Potential if AI growth becomes greater than the decline in legacy business