Overview
- Analysts forecast flat to marginal constant‑currency growth for large caps—up to about 1.8 percent—while mid‑tier firms are seen outperforming on cost‑focused and AI‑led work.
- Operating margins are expected to hold broadly as rupee depreciation and cost measures counter selective wage increases and pricing pressure.
- Recent US moves, including a reported $100,000 H‑1B visa fee and proposed tariffs or outsourcing taxes, have raised onsite costs and clouded staffing plans.
- TCS will kick off Q2FY26 results on October 9, with the board set to consider a second interim dividend, and management commentary on H‑1B, layoffs and deal conversion in focus.
- Investor sentiment improved ahead of earnings, with the Nifty IT index up nearly 2 percent on October 6 and several large stocks gaining up to about 3 percent.