Motilal Oswal Recommends 'BUY' on TCS with INR 4400 Target, Citing Strong Q3 Performance

• TCS reported Q3FY26 revenue of USD 7.5 billion, a 0.8% QoQ CC increase, surpassing estimates.
• EBIT margin stood at 25.2% (flat QoQ), exceeding the estimated 24.9%.
• Adjusted PAT rose 6.4% QoQ to INR 141 billion, excluding one-off restructuring costs.
• Deal TCV for the quarter was USD 9.3 billion, with a stable book-to-bill ratio of 1.2x.
• Motilal Oswal reiterates a 'BUY' rating on TCS with a target price of INR 4,400, indicating a 36% potential upside.

Why It Matters: Motilal Oswal recommends buying TCS, projecting a 36% upside to INR 4,400 after strong Q3FY26 results.