No fireworks from TCS Q2 nos, headcount dip keeps outlook bleak: Analysts

TCS Q2 results: There is limited visibility on demand recovery for the second half of FY24; Rs 17,000 crore buyback quantum is also below Street expectations, said analysts

The second quarter earnings (Q2FY24) of IT bellwether Tata Consultancy Services (TCS) reflected the sluggishness in global demand for IT services in line with the trend of the last few quarters. 

At the bourses, the stock slipped up to 1.6 per cent intra-day on Thursday, weighing on the entire IT pack. 

TCS management noted global worries weighing on client spending, which is leading to some deferments and pauses in ongoing projects. 

This is causing revenue leakage and thus muted growth despite strong order wins. As demand recovery is not in sight yet, visibility for the second half of