IT Stocks Outlook for the week - 30.01.2017 to 03.02.2017
IT Stocks Outlook for the week - 30.01.2017 to 03.02.2017
( www.rupeedesk.in )
Stocks of information technology companies are seen trading in a narrow range next week, as uncertainty over new US President Donald Trump's immigration policy persists. Also, with Union Budget for 2017-18 (Apr-Mar) scheduled to be presented on Wednesday, the highlight would be on other sectors, unless some major allocation is made for the IT sector. After taking charge on Jan 20, the new US president has already announced some measures that he had promised during his election campaign, including building a wall along the US-Mexico border. With such changes in place, chances were high that the bill against H-1B work visas would be passed. According to the bill, the minimum salary for employees on H-1B visas should be raised to $100,000 a year from the current $65,000. The bill also proposes a hike in visa fees. IT companies are largely dependent on US work visas, as a large number of employees are hired to work on US-based projects. Depreciation in rupee against the dollar is also seen helping the IT sector, though in the long run, this alone wouldn't be enough to keep IT stocks buoyant.
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IT Stocks Outlook for the week - 30.01.2017 to 03.02.2017
( www.rupeedesk.in )
Stocks of information technology companies are seen trading in a narrow range next week, as uncertainty over new US President Donald Trump's immigration policy persists. Also, with Union Budget for 2017-18 (Apr-Mar) scheduled to be presented on Wednesday, the highlight would be on other sectors, unless some major allocation is made for the IT sector. After taking charge on Jan 20, the new US president has already announced some measures that he had promised during his election campaign, including building a wall along the US-Mexico border. With such changes in place, chances were high that the bill against H-1B work visas would be passed. According to the bill, the minimum salary for employees on H-1B visas should be raised to $100,000 a year from the current $65,000. The bill also proposes a hike in visa fees. IT companies are largely dependent on US work visas, as a large number of employees are hired to work on US-based projects. Depreciation in rupee against the dollar is also seen helping the IT sector, though in the long run, this alone wouldn't be enough to keep IT stocks buoyant.
