TCS Share Price Rebounds 14% From September Low: Can the Rally Extend Further?
- October 14, 2026
- Posted by: Kunal Singla
- Category: News
TCS share price: about Rs 2,313 on 14 Oct 2026 (11:02 am), about 17% above the 52-week low of Rs 1,977 (my calculation). A 14% rebound from that low is about Rs 2,254. Q2 FY27 profit Rs 13,884 crore (+15%), annualised AI revenue $3.1 billion. The 25 named brokerage targets average about Rs 2,324 (my calculation), in a range of Rs 1,578 to Rs 3,266.
Quick Answer
The TCS share price has rebounded about 14% from its September low after Q2 FY27 results showed a 15% rise in profit, annualised AI revenue of $3.1 billion and total contract value of $9.6 billion, and technical indicators point to improving momentum above Rs 2,250 to Rs 2,260. Brokerages are split, with 25 named targets from Rs 1,578 to Rs 3,266 and an average of about Rs 2,324, which is only about 0.5% above the Rs 2,313 quote on 14 October (my calculation). Revenue grew only about 1.3% on the previous quarter and the operating margin was 24%, so the rally needs growth to pick up to extend further. The rebound can continue if the stock holds above the 50-day moving average, but the upside to the average target is now small.
The TCS share price fell through September to a 52-week low of about Rs 1,977 and then recovered sharply after the company reported results on 8 October. The stock closed at Rs 2,075.25 before the results and moved above Rs 2,300 within a week.
This guide explains how the 14% rebound in the TCS share price is measured, what the Q2 FY27 numbers say, where the brokerage targets sit and which levels matter next. Where I calculate a figure myself, I label it.
A rebound in the TCS share price from a low is not the same as a new uptrend, so the earnings trend and the levels matter more than the percentage.
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TCS Share Price Today: How the 14% Rebound Is Measured
| Item | Level | Note |
|---|---|---|
| Quote on 14 Oct (11:02 am) | Rs 2,313.30 | Up 1.94%; delayed quote |
| 13 Oct close area | About Rs 2,269 | From one market report |
| 52-week low | Rs 1,977 | Source figure; Rs 1,976.80 in another report |
| 25 Sep intraday low | Rs 2,038 | Close on 25 Sep was Rs 2,082 |
| 14% above Rs 1,977 | About Rs 2,254 | My calculation; close to the Rs 2,250 to Rs 2,260 level in the headline |
| 14% above Rs 2,038 | About Rs 2,323 | My calculation |
| 52-week high | Rs 3,350 | TCS share price is about 31% below it (my calculation) |
The base for the 14% move in the TCS share price is not stated in the headline, so I show two readings. Measured from the 52-week low of Rs 1,977, a 14% gain is about Rs 2,254, which matches the technical level in the headline. Measured from the 25 September intraday low of Rs 2,038, the gain is about Rs 2,323, which is close to the quote on 14 October.
Risk: The September low is not dated in the sources I found, so treat the 14% as approximate and check the base before using it in any decision.
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Q2 FY27 Results Behind the TCS Share Price Rebound
| Item | Q2 FY27 | Note |
|---|---|---|
| Net profit | Rs 13,884 crore | Up about 15% year on year and about 4% on the previous quarter |
| Underlying profit growth | About 7.6% | One report adjusts for a restructuring charge in the base period |
| Revenue | Rs 73,188 crore | Up about 11.2% year on year and about 1.3% on the previous quarter |
| Constant currency growth | 2.8% year on year | 0.5% on the previous quarter |
| Operating margin | 24.0% | Q2 FY26 was 25.2% |
| Total contract value | $9.6 billion | Q2 FY26 was $10.0 billion |
| Annualised AI revenue | $3.1 billion | From $2.6 billion in Q1, up about 19% |
| Interim dividend | Rs 12 per share | Record date 14 Oct; payment 30 Oct |
The headline profit growth behind the TCS share price rally is flattered by a low base, since one report puts the underlying rise at about 7.6%. Margin slipped by about 1.2 percentage points from a year ago, and deal wins were slightly lower than a year earlier. The AI run rate is the strongest part of the update, and TCS plans to buy MHP, the IT services unit of Porsche, for 320 million euros.
Two reports disagree on whether AI revenue is above 10% of total revenue, and one page shows $1.1 billion in the body and $3.1 billion in its FAQ. I use $3.1 billion because most sources agree on it.
Risk: A weak constant currency growth of 0.5% on the quarter means the TCS share price is being lifted more by sentiment and AI hopes than by faster growth.
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Brokerage Targets After the September Low Rebound
| Brokerage | Rating | Target |
|---|---|---|
| Centrum Broking | Not stated | Rs 3,266 (highest) |
| Nuvama | Buy | Rs 2,750 |
| Nomura | Buy | Rs 2,630 |
| UBS | Neutral | Rs 2,565 |
| Motilal Oswal | Buy | Rs 2,400 |
| JM Financial | Add | Rs 2,375 |
| Morgan Stanley | Equal weight | Rs 2,160 |
| CLSA | Hold | Rs 2,038 |
| Ambit | Sell | Rs 1,990 |
| Jefferies | Underperform | Rs 1,800 |
| Nirmal Bang | Sell | Rs 1,578 (lowest) |
These are the targets reported on 9 October, when the TCS share price was between Rs 2,086 and Rs 2,188. The 25 named targets average about Rs 2,324 (my calculation), so the stock at Rs 2,313 is already near the average, while the highest target is about 41% above the quote (my calculation).
Sources conflict on some ratings. One source shows JM Financial at Rs 2,375 with an Add rating, while an earlier report had Rs 2,205, so I use the later figure. Goldman Sachs is reported with a Buy and a Rs 2,210 target in one source only, and only 8 of the 25 targets come with a stated rating.
Risk: Targets were set when the TCS share price was lower, and with the stock now near the average target, further upside depends on brokerages raising them.
TCS Share Price Technical Levels to Watch
| Level | Price | Meaning |
|---|---|---|
| Momentum mark | Rs 2,250 to Rs 2,260 | Improving momentum above this zone, per the headline |
| 50-day moving average | About Rs 2,251 | Value reported on 25 Sep; it moves daily, so recheck |
| 100-day moving average | About Rs 2,317 | Value reported on 25 Sep |
| 200-day moving average | About Rs 2,512 | Value reported on 25 Sep; near the Rs 2,500 level analysts watch |
| Support | Rs 1,977 to Rs 2,038 | 52-week low and the 25 Sep low |
The Rs 2,250 to Rs 2,260 zone for the TCS share price sits close to the 50-day moving average reported on 25 September, so the headline level and the average point to the same area, though the average has since moved. The next hurdles are the 100-day and 200-day averages, and the 200-day is near Rs 2,500, which is about 8% above Rs 2,313 (my calculation).
Risk: A close back below Rs 2,250 would weaken the rebound case for the TCS share price, and a close below Rs 2,038 would put the September low in play again.
What to Watch Next for the TCS Share Price
- A close above the 100-day average near Rs 2,317 and then Rs 2,500, or a slide below Rs 2,250
- Constant currency growth in Q3 FY27, which has to improve on the 0.5% in Q2 to support the TCS share price
- Operating margin against the 24% level and the cost of the MHP deal
- Whether brokerages raise targets after the TCS share price rebound
- Infosys, Wipro and HCLTech results for the read across to the Nifty IT index
Conclusion
The TCS share price has rebounded about 14% from its September low on good Q2 FY27 numbers and AI revenue, but growth is slow and the stock is near the average brokerage target. Use the Rs 2,250 area and the September low as guides and avoid chasing the rebound.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Why has the TCS share price rebounded 14% from the September low?
Ans. The TCS share price recovered after Q2 FY27 results showed higher profit, annualised AI revenue of $3.1 billion and total contract value of $9.6 billion.
What was the September low of the TCS share price?
Ans. The 52-week low is reported at about Rs 1,977, and the 25 September intraday low was Rs 2,038. The exact date of the lower figure is not confirmed.
What is the key level for the TCS share price?
Ans. The headline points to improving momentum above Rs 2,250 to Rs 2,260, close to the 50-day moving average reported on 25 September.
What were the TCS Q2 FY27 results?
Ans. Net profit was Rs 13,884 crore, up about 15%, on revenue of Rs 73,188 crore, with a 24% operating margin and an interim dividend of Rs 12.
What are the brokerage targets for TCS?
Ans. Named targets range from Rs 1,578 to Rs 3,266 with an average of about Rs 2,324, my calculation from 25 reported targets.
Is the TCS share price still below its high?
Ans. Yes. The 52-week high is Rs 3,350, so the stock is about 31% below it.
What are the risks for the TCS share price?
Ans. Slow revenue growth, margin pressure, mixed brokerage views, a failed hold above the moving averages and a global IT slowdown.
Is this article investment advice?
Ans. No. It is educational and not a recommendation.
