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

Work-from-home and increased local hiring should help mitigate its impact

The stocks of major IT companies,  among the key users of H1B visas, were up by as much as 3 per cent on Tuesday, despite US President Donald Trump extending the suspension of work visas until the end of December. The BSE Sensex closed 1.5 per cent higher on Tuesday.

The reason for the Street shrugging off the H1B visa news, analysts say, is that Indian IT companies don’t see any material impact due to the extended suspension, which most see as a temporary measure. Factors, such as increased local hiring by IT players and the work-from-home model, should help mitigate