Citi picks Infosys and HCL Tech over other large-cap IT stocks as recovery remains slow

Citi has maintained a cautious view on the IT services sector, citing a slow and uncertain recovery in demand. Within Indian IT, the brokerage prefers Infosys and HCL Technologies over other large-cap peers, even as it keeps a guarded stance on the sector and says a macro-led rebound has yet to materialise.