Infosys, Wipro ADRs drop 3% as Cognizant, Infosys, TCS, Wipro, HCL among IT firms suspended from US green card programme
New Delhi, Oct. 8 -- The American Depositary Receipts (ADRs) of Infosys and Wipro slumped around 3% each in Thursday's trade after US President Donald Trump's administration suspended these firms from the Permanent Labour Certification Programme, which allows companies to apply for green cards for H-1B visa workers.
Along with these two, other domestic tech firms such as Tata and HCL Tech, as well as US-based firms with a large presence in India, including Cognizant, Capgemini, Microsoft and Adobe, were also on the list.
The announcement was made by US Labour Secretary Keith Sonderling, with Vice President JD Vance, the head of the US Anti-Fraud Task Force, by his side.
"I am hereby suspending from the Permanent Labour Certification Pr...
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