TCS can offer Rs 35 dividend, share buyback soon, says CLSA after Rs 3,593 target price

CLSA has maintained an Outperform rating on Tata Consultancy Services with a target price of Rs 3,593, implying 39% upside. The brokerage sees scope for a Rs 35 Q4 dividend and a potential buyback. However, AI disruption concerns and macroeconomic risks continue to weigh on IT sector valuations.