IT stocks: Street shrugs off Trump\'s extension of ban on H1-B visas

IT stocks: Street shrugs off Trump's extension of ban on H1-B visas

Though the dependency on H1-B visa workers is still sizeable at 40-50 per cent, analysts do not see the ban extending after the US Presidential election in November this year

Topics
IT stocks | Indian IT Sector | India's IT sector

Shreepad S Aute  |  Mumbai 

Even as US President Donald Trump on Tuesday extended the ban on work visas from June to the end of December, stocks of major IT companies, which are major users of H1-B visas, were up by as much as 3 per cent. The BSE Sensex closed 1.5 per cent higher on Tuesday.

The reason why the Street shrugged off the news, analysts say, is that Indian IT companies will not see any material impact due to the ban's extension, which most see it as a temporary measure. Moreover, factors such as increased local hiring by IT players and work-from-home model will mitigate the impact due to visa ...
First Published: Tue, June 23 2020. 18:33 IST