Analysts cautious on TCS growth recovery

Tata Consultancy Services (TCS) is expected to see a slow-paced recovery over the next few quarters, as deal conversions remain sluggish and clients continue to hold back discretionary tech spending, analysts said.

While the company has guided for an improvement in international business for FY26, multiple brokerages have flagged weak execution, project delays and a challenging macro environment as key near-term risks.