HCL Tech shares tumble 3%. Buy the dip or sell? Jefferies says buy with Rs 1,850 target price

HCL Tech shares fell over 3% after the company slashed its FY26 margin guidance by 100 bps and reported a sharp 170 bps QoQ margin decline. However, Jefferies upgraded the stock to 'Buy' with a target of Rs 1,850, citing raised revenue guidance and strong EPS growth prospects, positioning HCL as a potential leader among top Indian IT firms.