BSE IT Index fell as much as 4.8%, its biggest fall in six months; while India’s benchmark Sensex Index fell 0.6% to 27680.51 points. Photo: MintMumbai: Shares of information technology stocks on Tuesday slumped after Press Trust of India reported that the H1B visa reform bill introduced in the US House of Representatives. While Mphasis fell 3.9%, Geometric Ltd 3.9%, Hexaware Technologies Ltd 3.4%, Mindtree Ltd 3.3% and KPIT Technologies Ltd 3.1%. BSE IT Index fell as much as 4.8%, its biggest fall in six months; while India’s benchmark Sensex Index fell 0.6% to 27680.51 points. Businesses would have to try to hire American first and if they recruit foreign workers, priority would be given to the most highly paid, the Bloomberg report added.

Source: Mint January 31, 2017 07:41 UTC