Infosys, TCS, Wipro Among IT Giants Suspended From US Labour Certification Programme
Infosys is in focus.
· NDTV Profit, Business Today Mkts, LiveMint Markets, Economic Times Markets
The US Labour Department has suspended major IT outsourcing firms, including Infosys, TCS, Wipro and HCL, from its labour certification programme.
The analysis
Against that, the stock is +0.5% on the day at ₹997.00, and has returned -6.7% over three months. It sits 41% below its 52-week high, which means a good deal of bad news was already in the price. The it sector has moved +1.1% over the same period, so Infosys is running 7.8 points behind its peers.
With Infosys, Tata Consultancy and Wipro all implicated, this reads as a IT-level move rather than a company-specific one, which is the more durable kind of signal.
Market context
- It touches several names at once (INFY, TCS, WIPRO), which points to a sector-level rather than company-specific driver.
- Sector exposure: IT.
In this story
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