Citi has maintained a Sell rating on Tata Consultancy Services (TCS) with a target price of ₹3,135, indicating a marginal downside from the current market price of ₹3,140.00.
The brokerage flagged the company’s announcement to let go of 2% of its global workforce during FY26. While TCS CEO attributed this move to the need for becoming “future-ready and agile,” Citi highlighted that it’s not directly related to AI or cost-cutting through automation.
Citi noted that the Q1FY26 performance suggests continued sluggishness in TCS’s core markets. The brokerage emphasized that trends in margins and cash flows remain areas to watch closely.
Disclaimer: This article is based on Citi’s brokerage report and does not constitute investment advice. Please consult a certified financial advisor before making any investment decisions.
