TCS Q1FY26 earnings showed profit growth and margin stability, with ₹12,829 crore PAT and 24.6% EBIT margin. However, revenue and constant currency growth lagged, with CMT segment declining sharply. Analysts urge caution, noting ₹3,740 as a key breakout level. Stock sentiment remains bullish, but technicals suggest watch-and-wait till resistance clears.