Whalesbook
TCS ke CEO K Krithivasan ne kaha hai ki company ka goal hai duniya ki sabse best AI-driven technology services company banna. Iske liye woh apne top 139 clients mein se 130 ko already AI services de rahe hain. Unka kehna hai ki FY25-26 AI ka bada saal hoga, jahan trials se zyada actual use hoga.
Lekin yeh sab ho raha hai jabki poora Indian IT sector bahut pressure mein hai. Nifty IT index December 2024 ke highest point se 40% se bhi zyada gir gaya hai. News yeh hai ki AI shayad traditional IT services ki demand kam kar dega aur AI-native companies aa rahi hain. Is vajah se TCS ke shares bhi 52-week lows ke aas paas hi trade ho rahe hain.
TCS ka plan hai ki woh har cheez handle karein - Infrastructure to Intelligence. Iske liye woh 270,000 se zyada employees ko train kar rahe hain aur Government e-Marketplace (GeM) jaisi badi projects bhi sambhal rahe hain. Par competitors bhi peeche nahi hain. Infosys, Wipro, HCLTech sab AI mein paisa laga rahe hain. Jaise Infosys ka market cap lagbhag ₹4.53 lakh crore hai aur P/E ratio 14.5-15.1x ke beech hai. Wipro ₹1.99 lakh crore ka hai aur P/E 13.5-15.8x. HCLTech ₹3.2 lakh crore ka hai aur P/E 18.5-24x ke beech.
Bade global players jaise Accenture ka P/E 13-14.5x hai aur woh OpenAI jaise AI leaders ke saath partner kar rahe hain. IBM bhi pressure mein hai AI startups se, uska P/E 19.4-20.5x hai. TCS khud ₹8.19 lakh crore ke market cap par lagbhag 15.7-16.7x ke P/E par trade kar raha hai (mid-May 2026 tak ka data).
TCS ki AI strategy ko risks bhi hain. Especially woh companies jo sirf AI ke liye bani hain aur OpenAI jaise direct AI solutions wale players jo TCS jaiso ko bypass kar sakte hain. Is uncertainty ke karan hi IT stocks gir rahe hain. Aur AI ki wajah se services ke price par bhi pressure aa sakta hai, matlab profit margins kam ho sakte hain. Analysts generally TCS ko 'Buy' rating de rahe hain aur price target bhi acha dikha rahe hain, par market thoda skeptical hai ki purani IT companies AI disruption ko kaise handle karengi.
AI services market toh aane wale samay mein kafi badhne wala hai, jahan TCS ke liye opportunities hain. Lekin abhi client spending kam hona, inflation aur generative AI se aane wale structural changes unke profit margins ko affect kar sakte hain, bhale hi revenue badh jaye.