Tata Consultancy Services Ltd (TCS) delivered a decent September-quarter performance amid low expectations, with revenue and margins (excluding one-off expenses) beating Street estimates, while profit was broadly in line with consensus. Stock analysts believe the stock looks attractive but they do not rule of near-term volatility. They are positive about TCS' data centre foray but said more clarity is awaited. Advertisement

"TCS has corrected sharply (25 per cent CYTD) and is now trading at a valuation of 20 times FY27E—in line with its historical multiple. While we expect near-term volatility to persist, the stock appears highly attractive from a medium to long-term perspective," Nuvama said as it cut its target to Rs 3,650 on the stock from Rs 3,950 earlier.

Biswajit Maity, Sr Princi

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