TCS joins other IT companies in announcing their Q2 FY27 results schedules ahead of the earnings season, with the company's Board of Directors meeting scheduled for Thursday, October 8, 2026, to approve and take on record the audited standalone and consolidated interim financial results for the quarter ending September 30, 2026. According to the exchange filing dated September 22, 2026, the meeting will cover both quarterly and half-yearly financial results of the company. In the same board meeting, TCS's board of directors might also consider declaration of second interim dividend to the equity shareholders. As reported in the exchange filing, the second interim dividend, if declared, shall be paid to the equity shareholders of the Company whose names appear in the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Wednesday, October 14, 2026. The company has not disclosed the amount or specific terms of the proposed dividend, leaving it as a consideration for the board's deliberation.
TCS has already delivered its first interim dividend of ₹12 per share in July 2026 and will pay the second interim dividend to shareholders whose names appear in the register as of October 14, 2026. As reported by Goodreturns, HCL Tech rewarded investors with first and second interim dividends of ₹24 and ₹12 per share respectively in April and July. Infosys has paid up to ₹48 dividend per share in the past 12 months and carried out a buyback for FY26. The companies will declare their financial results as per INDAS and IFRS for the quarter and half year ending September 30, 2026.
According to Goodreturns reports, TCS shares are trading at ₹2,105 on BSE with a market capitalization of ₹7,61,969.23 crore, though the stock closed 1.11% lower at ₹2,105 per share on Tuesday. The shares are down 6.49% in one week and 8.56% in one month, reflecting broader market challenges in the IT sector. TCS shares are down 34.78% year-to-date and 31.52% in one year. TCS shares are down 34.78% year-to-date and 31.52% in one year. Infosys shares stand at ₹1,029.80 with a market cap of ₹4,17,916.78 crore, while HCL Tech is currently at ₹1,270 with a market cap of ₹3,44,635.47 crore. Year-to-date performance shows TCS has crashed by nearly 35%, Infosys has dropped nearly 37%, and HCL Tech has declined over 22% in 2026 so far.
As reported by Goodreturns, HCL Technologies has retained its revenue growth guidance to 1-4% for FY27, with IT services growth guidance ranging from 1.5% to 4.5% and EBIT margin expected at 17.5% to 18.5%. Infosys has cut its upper-end constant currency revenue growth guidance to 3% from 3.5% while keeping the lower-end guidance unchanged at 1.5%. The company has retained its EBITDA margin guidance for FY27 at 20-22%. According to a report from Choice Institutional Equities, Indian IT companies should focus on vendors combining scale, BFSI domain depth, modernisation capabilities and differentiated AI offerings.
According to Goodreturns, analysts at Choice have recommended 'REDUCE' on all three stocks with specific target prices: TCS target price of ₹2,320, Infosys target of ₹1,035, and HCL Tech target of ₹1,230. On the Trendlyne tracker, the consensus recommendation for HCL Technologies is HOLD with average 12-month target price at ₹1,264.46. For Infosys, the consensus recommendation is BUY with average 12-month target price of ₹1,204.52. For TCS, the consensus recommendation is BUY with average 12-month target price of ₹2,474.61. These recommendations could change after the Q2 results are announced.
