Tech stocks outperform Nifty, Sensex as rupee tumbles to 8-month low; Infosys, TCS rake in the most Many technology companies export their services and earn money in dollar terms, hence any fall in rupee against greenback is always favourable to these companies.
Lower H1-B Visa approvals might be responsible for higher attrition rate in IT sector IT service sector is known to be very competitive in general. Known for its large campus intakes, majority of employees in this sector hold bachelor's degrees. Multnational Corporations become attractive to junior employees if they see a possibility of small hikes and an opportunity to work overseas.
Buyback tax: Major relief for Infosys, Wipro; but IT sector may not have much to gain The IT sector business is dependent on volatility in the external markets such as the US, UK and Europe than the domestic