LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

IT stocks face selling pressure, tank up to 6% over tightening H-1B visa norms

IT stocks declined up to 6 per cent Friday due to concerns over tightening of H1-B visa norms. Shares of Infosys dropped 3.11 per cent, TCS fell by 0.55 per cent and Wipro softened by 0.29 per cent on the BSE.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
IT stocks face selling pressure, tank up to 6% over tightening H-1B visa norms
Shares of Infosys dropped 3.11 per cent, TCS fell by 0.55 per cent and Wipro softened by 0.29 per cent on the BSE. Image courtesy: Reuters
Written By: PTI
Updated: Fri, Oct 19, 2018
06:34 pm
PTI
RELATED NEWS
TCS share price outlook: Want to invest in Tata Consultancy Services stock? Know market strategy from this expert! TCS share price outlook: Want to invest in Tata Consultancy Services stock? Know market strategy from this expert!
On Wipro, Infosys, TCS and other IT stocks, Anil Singhvi reveals profitable strategy - do this to maximise gains! On Wipro, Infosys, TCS and other IT stocks, Anil Singhvi reveals profitable strategy - do this to maximise gains!
From one FAANG to another: Jeff Bezos' Amazon creates this big opportunity for Indian FAANG stocks - Here's how From one FAANG to another: Jeff Bezos' Amazon creates this big opportunity for Indian FAANG stocks - Here's how
Assembly Election results 2018! Investors find love for pharma, IT, consumer durable stocks Assembly Election results 2018! Investors find love for pharma, IT, consumer durable stocks

New Delhi: IT stocks declined up to 6 per cent Friday due to concerns over tightening of H1-B visa norms. Shares of Infosys dropped 3.11 per cent, TCS fell by 0.55 per cent and Wipro softened by 0.29 per cent on the BSE.
Among others, HCL Technologies slumped 6.16 per cent and Tech Mahindra tanked by 3.98 per cent. "IT sector witnessed profit-booking on concerns of tightening H1-B visa," said Vinod Nair, head of research, Geojit Financial Services.

The Trump led administration has said it is planning to "revise" the definition of employment and specialty occupations under the H-1B visas by January, a move which will have an adverse impact on the Indian IT companies in the US and small and medium-sized contractual firms mostly owned by Indian-Americans.

Watch this Zee Business video here:

The H-1B visa, most sought-after among Indian IT professionals, is a non-immigrant visa that allows the US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. The technology companies depend on it to hire tens of thousands of employees each year from countries like India and China. 

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
IT stocksBombay Stock Exchange (BSE)H1B VisaIndians H1B visa US
RELATED NEWS
TCS share price outlook: Want to invest in Tata Consultancy Services stock? Know market strategy from this expert! TCS share price outlook: Want to invest in Tata Consultancy Services stock? Know market strategy from this expert!
On Wipro, Infosys, TCS and other IT stocks, Anil Singhvi reveals profitable strategy - do this to maximise gains! On Wipro, Infosys, TCS and other IT stocks, Anil Singhvi reveals profitable strategy - do this to maximise gains!
From one FAANG to another: Jeff Bezos' Amazon creates this big opportunity for Indian FAANG stocks - Here's how From one FAANG to another: Jeff Bezos' Amazon creates this big opportunity for Indian FAANG stocks - Here's how
Assembly Election results 2018! Investors find love for pharma, IT, consumer durable stocks Assembly Election results 2018! Investors find love for pharma, IT, consumer durable stocks
IT stocks fall up to 3% on strengthening rupee IT stocks fall up to 3% on strengthening rupee

LATEST NEWS

Listing facilitation! Ahead of LIC IPO, authorised capital boost of Rs 25,000 crores - All you need to know

US continues to see drop in new Covid cases

Announcement LIVE: IIT JEE Main 2021 Result February - Date, time, declaration on NTA website direct link jeemain.nta.nic.in, download answer key, score checking and more

Life Insurance Coverage Calculator: Simple cover calculation in just 3 steps - EXPLAINED

Stock Market Outlook: Focus will be on these - Check what share bazaar experts, analysts opined

Mumbai-Ahmedabad Bullet Train: Tech bids open for bridge project - Check latest news development

Rakesh Jhunjhunwala stocks: This Big Bull-owned MULTIBAGGER has delivered more than 42 pct in less than two month

COVID-19: India records 18,711 new cases

Twitter CEO and billionaire Jack Dorsey puts his 1st tweet on sale, bid reaches Rs 2 cr

Super hi-tech driverless pod taxis for Noida Aiport! Check Yogi Adityanath government's big plans for Jewar

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved