TCS Shares Slip as Brokerage Caution Weighs After Q3 Results

• TCS shares fell 0.6% in early trade after Q3 FY26 results, reversing previous gains.
• Brokerage views are largely cautious, flagging limited visibility on sustained growth recovery.
• Analysts noted in-line operational performance but demand acceleration is unclear, especially for international business.
• Most brokerages maintained 'neutral' or 'hold' ratings due to muted international growth and modest deal momentum.
• CLSA is an outlier with a constructive view, citing stable margins and AI-led revenue growth.

Why It Matters: TCS shares dipped due to cautious brokerage outlook despite stable Q3 operations, awaiting clearer growth signs.