TCS reported a subdued performance in Q1FY26, primarily impacted by the rampdown of the BSNL contract and cautious client spending across key verticals. Despite these headwinds, the company delivered margin resilience, with EBIT improving, driven by deferred wage hikes, lower third-party expenses, and favourable currency movements. A robust deal pipeline driven by demand for cost optimization, vendor consolidation, and AI-led transformation, underscores sustained client interest. We expect the launch of AI-led platforms, deeper domain...