Buy, Sell or Hold: Citi recommends buy on Divi’s Laboratories; downgrade HCL Technologies post Q1 results

Brokerages expressed caution on frontline IT stocks following June quarter earnings. Citi downgraded HCL Technologies to Sell, citing weak software business performance. Motilal Oswal maintained a Sell rating on Tata Elxsi due to margin pressures. Citi reiterated a Buy rating on Divi's Laboratories, seeing long-term growth potential. Analysts highlight slowing growth and expensive valuations across key segments.