Views on Infosys Cleared of Visa Violation Charges in US: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - IT & Pharma, Angel Broking)

Infosys Cleared of Visa Violation Charges in US

"The US government has found no visa violations by IT major Infosys. The US had initiated investigation against Infosys and its rival Tata Consultancy Services for possible violations of H1-B visa rules in June 2015. The investigation came on the back of a complaint by two US Senators, who alleged that the two companies used a US visa programme to "replace hundreds of American workers" at a power company. Indian outsourcers are among the biggest recipients H-1B visas, which are intended for highly skilled workers. We maintain our BUY with a price target of INR 1306 and remain positive on the IT space. "

Shares of INFOSYS LTD. was last trading in BSE at Rs.1059.3 as compared to the previous close of Rs. 1059.6. The total number of shares traded during the day was 144972 in over 5560 trades.

The stock hit an intraday high of Rs. 1074.45 and intraday low of 1052.35. The net turnover during the day was Rs. 154358993.

Source : Equity Bulls

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