Archive · 9 Oct 2026
Indian IT Stocks Rise Despite New US Immigration Restrictions
Indian technology company shares went up on Friday.
The Nifty IT index rose about 3 per cent during the day.
TCS helped lead the gains after reporting higher profits and revenue than a year earlier.
The day before, the US government suspended several technology companies from a worker-certification programme.
This raised concerns about possible hiring and compliance costs.
Investors also considered that Indian IT companies now rely less on H-1B visa hiring than before.
A weaker rupee can also help when overseas earnings are converted into rupees.
These factors helped investors focus on company results and business prospects as well as the US restrictions.
The Nifty IT index gained around 3 per cent intraday on Friday, and all 10 constituents traded higher.
TCS led major IT stocks after quarterly net profit rose 14.9 per cent and revenue increased 11.2 per cent year-on-year.
The rally followed US suspensions of several technology companies from the Permanent Labour Certification Programme.
The article says reduced H-1B dependence and lower eligible registration numbers helped limit investor concerns.
Rupee depreciation may support reported rupee revenue and profitability for firms earning substantially overseas.
- Who
- Indian IT companies, including TCS, and investors.
- What
- IT shares rallied, with the Nifty IT index up around 3 per cent intraday.
- When
- Friday; the rally followed the US suspensions announced the previous day.
- Where
- India's stock market.
- Why
- TCS's better-than-expected results, reduced H-1B hiring dependence and rupee depreciation supported sentiment despite concerns over US restrictions.
Reasons for concern
Reasons for investor optimism
Impact of US PERM suspensions
Reasons for concern
The US government suspended several technology companies from the PERM programme, raising concerns about hiring and compliance costs.
Reasons for investor optimism
Investors appeared to see limited immediate exposure. TCS said its PERM applications had been in single digits over the past two years and it did not expect an impact on its workforce strategy or customer engagements.
Visa restrictions and sector outlook
Reasons for concern
Fresh US immigration-related restrictions added uncertainty for Indian IT firms.
Reasons for investor optimism
The sector has reduced its reliance on H-1B hiring, and TCS's stronger-than-expected quarterly results and rupee depreciation supported sentiment.
- Nifty IT intraday gain
- Around 3 per cent on Friday
- Nifty IT constituents
- All 10 traded higher during the session
- TCS Q2 net profit
- Rs 13,884 crore, up 14.9 per cent year-on-year
- TCS Q2 revenue
- Rs 73,188 crore, up 11.2 per cent year-on-year
- TCS share gain
- Around 4.6 per cent in intraday trade
- Eligible H-1B registrations cited
- 211,600 for FY27, down 38.5 per cent from 343,981 a year earlier
- PERM action
- The US government suspended several technology companies from the Permanent Labour Certification Programme