Tech Mahindra, HCL Tech, Infosys shares fall after Donald Trump bars govt agencies from hiring foreign workers
Shares of Tech Mahindra (3.18%) , HCL Tech (2.15%) and Infosys (1.29%) were the top losers on Sensex in afternoon trad
August 4, 2020 | Updated 14:38 IST
IT stocks were among the top losers today after US President Donald Trump signed an executive order preventing federal agencies from contracting or subcontracting foreign workers from hiring.
Shares of Tech Mahindra (3.18%) , HCL Tech (2.15%) and Infosys (1.29%) were the top losers on Sensex in afternoon trade. TCS share too fell 1.11% to Rs 2226 intra day against previous close of Rs 2251 on BSE. On an intra day basis, Tech Mahindra share slipped 3.29% to Rs 651.4 against previous of Rs 673.55 on BSE.
Similarly, share price of HCL Technologies has lost 2.69% intra day to Rs 687.05 against previous close of Rs 706.05. Infosys stock plunged 1.70 % to Rs 941.05 against previous close of Rs 957.35 on BSE. Nifty IT index was trading 1.20% or 215 points lower at17,759. Intra day, it fell 1.38% to 17,716. BSE IT index fell 165 points to 17,967 in afternoon trade.
H1-B visa: Trump signs executive order to restrict hiring of foreign workers
The move to sign executive order came a month after the Trump administration on June 23 suspended H-1B visas along with other types of foreign work visas until the end of 2020 to protect American workers in a crucial election year. The new restrictions took effect from June 24.
H1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.
Shares of Tech Mahindra (3.18%) , HCL Tech (2.15%) and Infosys (1.29%) were the top losers on Sensex in afternoon trad
August 4, 2020 | Updated 14:38 IST
IT stocks were among the top losers today after US President Donald Trump signed an executive order preventing federal agencies from contracting or subcontracting foreign workers from hiring.
Shares of Tech Mahindra (3.18%) , HCL Tech (2.15%) and Infosys (1.29%) were the top losers on Sensex in afternoon trade. TCS share too fell 1.11% to Rs 2226 intra day against previous close of Rs 2251 on BSE. On an intra day basis, Tech Mahindra share slipped 3.29% to Rs 651.4 against previous of Rs 673.55 on BSE.
Similarly, share price of HCL Technologies has lost 2.69% intra day to Rs 687.05 against previous close of Rs 706.05. Infosys stock plunged 1.70 % to Rs 941.05 against previous close of Rs 957.35 on BSE. Nifty IT index was trading 1.20% or 215 points lower at17,759. Intra day, it fell 1.38% to 17,716. BSE IT index fell 165 points to 17,967 in afternoon trade.
H1-B visa: Trump signs executive order to restrict hiring of foreign workers
The move to sign executive order came a month after the Trump administration on June 23 suspended H-1B visas along with other types of foreign work visas until the end of 2020 to protect American workers in a crucial election year. The new restrictions took effect from June 24.
H1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.
