<ul data-eligibleForWebStory="false">TCS reported revenue decline in Q1 due to the ramp-down in the BSNL deal.Systematix Institutional Equities reaffirms 'Buy' rating on TCS stock citing robust pipeline and compelling valuations.TCS has consistently gained market share across tech shifts supported by its diversified service mix, client trust, and domain expertise.At a 23.6x 1-year forward multiple, TCS trades at a 4% discount to its average 10-year historical valuation.