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Tata Consultancy Services (TCS) has announced an expansion of its long standing partnership with Indian Bank, to deploy TCS BaNCS for Treasury at its Colombo branch in Sri Lanka, making the entry of TCS BaNCS for Treasury in the country.
Following the successful deployment of TCS BaNCS for Treasury across Indian Bank's operations in India and at GIFT City in Gujarat, the platform is now being extended to the Bank's Colombo branch, reinforcing a unified approach to treasury operations across geographies. With this expansion, Indian Bank marks a new milestone platform-led transformation with TCS.
As part of the collaboration, TCS will help Indian Bank modernize its overseas treasury operations across money markets, investment management, and foreign exchange. The transformation will enable Indian Bank's Colombo branch to move to a single, integrated treasury platform that supports unified deal processing, real-time position visibility, stronger risk and limit controls, and compliance-ready reporting. The Bank will be able to reduce manual intervention, improve straight-through processing, and strengthen audit and regulatory readiness through a single source of truth.
Tata Technologies Ltd gained 7.72% today to trade at Rs 802.6. The BSE Information Technology index is up 0.89% to quote at 29221.2. The index is up 3.1 % over last one month. Among the other constituents of the index, Sasken Technologies Ltd increased 5.69% and Tata Consultancy Services Ltd added 2.71% on the day. The BSE Information Technology index went down 15.59 % over last one year compared to the 11.67% fall in benchmark SENSEX.
Tata Technologies Ltd has added 5.86% over last one month compared to 3.1% gain in BSE Information Technology index and 1.4% drop in the SENSEX. On the BSE, 29626 shares were traded in the counter so far compared with average daily volumes of 77896 shares in the past one month. The stock hit a record high of Rs 890.15 on 11 Aug 2026. The stock hit a 52-week low of Rs 507.5 on 30 Mar 2026.
Tata Consultancy Services (TCS) has launched the TCS Industrial Intelligence Foundry, an AI offering that enables industrial enterprises to move from AI experimentation to scaled deployment across engineering and manufacturing. It offers a repository of configurable AI agents, workflows, and governance capabilities designed to accelerate enterprise AI adoption.
The Foundry will help enterprises embed intelligence into core engineering and manufacturing workflows for aerospace, mobility, semiconductors, medical devices, industrial electronics, utilities and energy. Unlike horizontal copilots or general-purpose generative AI platforms that are not industry specific and require enterprises to build AI agents from scratch, the Industrial Intelligence Foundry offers domain-engineered vertical AI applications that are industry specific and integrate with existing workflows.
The offering can help enterprises reduce new product introduction timelines by 25% and improve manufacturing productivity by 20-25%. As data foundations and operating ecosystems mature, productivity gains could exceed 40%, while maintaining quality, governance, and operational performance.
Ramachandran S, Practice Leader, Engineering and Manufacturing, HFS Research, said, “Most enterprise AI still lives on desktops, while there is untapped value on shop floors in industrial and physical AI. According to our research, industrial organizations plan to double their physical AI spending over the next two years. That is an opportunity to unlock latent value across engineering and manufacturing workflows, especially in critical areas where prevailing technologies fall short due to cost or functionality. Industrial Intelligence Foundry is TCS' bet to fill this gap with domain-specific AI, with the potential for significant business impact, scaling AI Implementations and not just another agentic AI project.”
Tata Consultancy Services Ltd is up for a third straight session today. The stock is quoting at Rs 2367.3, up 2.71% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.69% on the day, quoting at 23005.5. The Sensex is at 74164.05, up 1.9%. Tata Consultancy Services Ltd has gained around 8.16% in last one month.
Meanwhile, Nifty IT index of which Tata Consultancy Services Ltd is a constituent, has gained around 5.94% in last one month and is currently quoting at 30171, up 2.14% on the day. The volume in the stock stood at 61 lakh shares today, compared to the daily average of 45.97 lakh shares in last one month.
The benchmark October futures contract for the stock is quoting at Rs 2369.1, up 2.83% on the day. Tata Consultancy Services Ltd is down 20.31% in last one year as compared to a 10.08% slide in NIFTY and a 13.27% slide in the Nifty IT index.
The PE of the stock is 15.02 based on TTM earnings ending September 26.
In the cash market, the Nifty 50 index declined 99.25 points or 0.44% to 22,622.70.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.39% to 14.60.
Infosys, HDFC Bank and Tata Consultancy Services (TCS) were the top-traded individual stock futures contracts in the F&O segment of the NSE.
The October 2026 F&O contracts will expire on 27 October 2026.
In the cash market, the Nifty 50 index surged 358.60 points or 1.60% to 22,721.95.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 7.94% to 14.04.
Tata Consultancy Services (TCS), Infosys and HCL Technologies were the top-traded individual stock futures contracts in the F&O segment of the NSE.
Shares of Ambuja Cement, Bandhan Bank, LIC Housing Finance will be barred from F&O trading on 9 October 2026.
Earnings Today:
Anand Rathi Wealth, Can Fin Homes, Canara Robeco Asset Management Company. Poonawalla Fincorp will declare their results later today.
Stocks to Watch:
Tata Consultancy Services (TCS): The IT major reported a 4.01% quarter-on-quarter (QoQ) and 14.98% year-on-year (YoY) increase in consolidated net profit to Rs 13,884 crore in Q2 FY27. Revenue rose 1.3% QoQ and 11.2% YoY to Rs 73,188 crore during the quarter. Revenue growth in constant currency (CC) stood at 0.5% QoQ. Annualised artificial intelligence (AI) revenue stood at $3.1 billion in Q2 FY27, crossing 10% of the company's revenue.
JSW Steel: The steel producer reported consolidated crude steel production of 7.27 million tonnes in Q2 FY27, up 10% QoQ and 5% YoY. Production from its Indian operations stood at 7.07 million tonnes, registering 5% YoY growth. Capacity utilisation at its Indian operations stood at 88% during the quarter.
SML Mahindra: The company reported a 19.83% YoY increase in production to 1,257 units in September 2026, compared with 1,049 units in the corresponding month last year. Sales rose 31.9% YoY to 1,071 units during the month.
PN Gadgil Jewellers: The company reported 22.4% YoY revenue growth despite the shift in the Navratri festive period to Q3 FY27. Its retail segment grew 31.1% YoY, supported by robust same-store sales growth (SSSG) of 25.5%. The performance indicates strong organic growth, driven by deeper customer engagement at existing stores.
Dr Reddy’s Laboratories: The company said the US Food and Drug Administration (USFDA) issued a Form 483 with two observations following a pre-approval inspection (PAI) at its FTO-11 manufacturing facility in Pydibhimavaram, Andhra Pradesh. The inspection was conducted from October 5 to October 7, 2026.
Pace Digitex: The company received a letter of intent (LoI) from BSES Rajdhani Power Limited for the development of a 57.5 MW/115 MWh standalone battery energy storage system (BESS) in Delhi. The project will be developed under a 12-year build, own, operate and transfer (BOOT) model, with an estimated capital outlay of around Rs 179.4 crore.
Hexaware Technologies: The company announced a multi-year partnership with Anthropic, becoming a preferred partner in the latter’s Claude Partner Network. Under the partnership, Hexaware will use Anthropic’s Claude AI models alongside its Zerovity and AgentVerse platforms to deliver outcome-based services across IT operations and software engineering.
Travel Food Services: The company’s whole-time director and chief financial officer (CFO), Vikas Kapoor, tendered his resignation on October 7, 2026, citing personal career aspirations.
Tata Consultancy Services has issued a statement regarding the announcement by the US Government on the Permanent Labor Certification Program:
“We have noted the announcement by the US Government on the Permanent Labor Certification Program (PERM) and TCS will comply with any directive from the Department of Labor.
Our workforce strategy in the US is anchored in hiring local talent, supported by a robust campus recruitment model. We have built a significant local workforce across 31 offices and delivery centers throughout the country.
As we had announced earlier, we intend to hire an additional 15,000 people in the US over the next five years, to further augment our local workforce.
Our PERM applications were in single digits in the last two years and hence we do not expect the suspension of the program to impact our workforce strategy and customer engagements. ”
International revenue grew 1.2% QoQ in constant currency, led by growth in banking, financial services and insurance (BFSI), manufacturing, and technology & services. BFSI revenue grew 2.5% QoQ in constant currency, while manufacturing and technology & services grew 3.1% each.
The company reported an operating margin of 24% in Q2 FY27.
The company's total contract value (TCV) stood at $9.6 billion in Q2 FY27, up from $9.5 billion in Q1 FY27 but lower than $12 billion in Q4 FY26.
Annualised artificial intelligence (AI) revenue stood at $3.1 billion in Q2 FY27, crossing 10% of the company's revenue.
Net cash generated from operations stood at Rs 14,190 crore, equivalent to 102.2% of net income.
TCS's workforce stood at 5,98,056 employees, while trailing 12-month attrition in IT services stood at 13.3%.
Meanwhile, the company declared a dividend of Rs 12 per share. The record date is 14 October 2026, with payment scheduled for 30 October 2026.
Separately, TCS said it did not expect the US government's announcement concerning the Permanent Labor Certification Program (PERM) to affect its workforce strategy or customer engagements. The company said its PERM applications had remained in single digits over the past two years and that its US workforce strategy was centred on local hiring, supported by campus recruitment.
The company added that it had built a significant local workforce across 31 offices and delivery centres in the US and planned to hire an additional 15,000 employees in the country over the next five years. The company said it would comply with any directives issued by the US Department of Labor.
K Krithivasan, chief executive officer and managing director, said “We are pleased with the broad-based growth in all our international markets and most industry segments. This quarter we announced two unique deals with Porsche and Best Buy which represent a new category of transformation partnerships. Together with our clients, we are building repeatable value platforms that will industrialize AI at scale.“
Samir Seksaria, chief financial officer, said, “We continued to strengthen our capabilities through acquisitions, partnerships and investments in niche talent. In addition, we maintained strong cash conversion and industry-leading profitability, along with our focus on creating sustainable long-term value for all stakeholders.”
Sudeep Kunnumal, chief HR Officer, said “We continue to build a future-ready workforce through upskilling our employees and hiring top talent. Investments in learning and critical skills drove a 17% sequential increase in learning hours to 17.1 million. This quarter our employee base reached over 598,000, while attrition remained stable at 13.3%.”
Tata Consultancy Services (TCS) is a digital transformation and technology partner of choice for industry-leading organizations worldwide.