Despite Trump administration's decisions, shares of IT companies, including TCS, Infosys, and HCL, rose on the Indian stock market

The US government has taken serious steps against several large IT companies, including Indian enterprises. The US Department of Labor has suspended the PERM permanent labor certification program related to obtaining green cards.

Companies included in this measure are Cognizant, Infosys, Tata, Wipro, HCL, and Capgemini. Additionally, the program was suspended for Microsoft and Adobe. American officials have accused these corporations of abusing the green card program.

The permanent employment program plays a key role in the process of obtaining a green card based on permanent employment in the US. After receiving approval from the US Department of Labor, any company can sponsor a foreign employee for a green card. The company must declare that no suitable American candidate was found for the position, which simplifies the process of obtaining a green card for the foreigner.

US Secretary of Labor, Kia Sonderling, informed about the measures taken, noting allegations of misuse of the PERM system by these large companies. Sonderling expressed the harshest criticism towards Microsoft, stating that this company used the system more extensively than any other.

US Vice President J. Di Vance leveled serious accusations against Microsoft. He reported that in 2025, Microsoft laid off about 6,000 American employees, despite previously claiming there were no qualified American candidates for those positions. Nevertheless, Microsoft received over 6,000 H-1B visas and filed for 3,682 green cards. Vance asserted that about a thousand of these applications concerned precisely the positions from which American workers were laid off.

Vance emphasized that the purpose of the H-1B program was to attract highly skilled specialists from abroad to positions that could not be filled by American citizens. However, he accused the system of becoming an object of large-scale fraud and violations.

The US Department of Labor also included nine universities under scrutiny. These include major educational institutions such as Harvard, Yale, and Stanford. US authorities suspect these universities of attempting to hire international students to lower the wages of American workers. Anthony Di'Esposito, head of the Office of Labor Oversight, stated that summonses have already been sent to the relevant institutions.

These actions may affect foreign employees applying for green cards through the mentioned companies in the US. This is especially true for workers whose green card application process is ongoing, as uncertainty and delays will increase for them. Nevertheless, the suspension of the program for any company does not mean the automatic cancellation of already approved green cards. The main impact may affect new or ongoing application processes.

The US government's stance is to ensure that foreign employees are not used as cheaper replacements for American workers. The goal of this entire campaign is to protect the interests of American citizens and ensure compliance with labor laws.

It is impossible to predict which stock on the stock market will bring significant profit to its investors, but there are several such promising securities. Among them, Sterlite Technologies stock stands out, having allowed investors to achieve high returns in just nine months. According to experts, the growth rate of this asset will not slow down and may increase by another 40 percent.

Sterlite Technologies stock quickly turned into a multibagger for its holders. Over a period of nine months, investors who invested in this asset achieved an impressive return of 1050 percent. For example, an investment of 100 thousand rupees could have grown to 11.50 thousand rupees.

On Monday, the first trading day of the week, Sterlite Tech shares showed strong growth. By the close of trading, the upper price limit for this asset was set at 5 percent, and it finished the session at 1003.10 rupees. This figure also became a new 52-week high for the stock. Thanks to the stock's growth, the company's market capitalization increased to 51,440 million rupees.

Even during market instability, the impact on Sterlite Tech was minimal. Over the last six months, the shares provided investors with a solid return of 433 percent, meaning more than a fivefold increase in invested funds. Furthermore, the asset grew by 23 percent in just the last five trading days.

Despite Sterlite Tech stock becoming a multibagger in a short time, experts are confident that the upward trend will continue. The investment firm Nirmal Bang Institutional Equities has begun highlighting STL stock as a multibagger. The brokerage firm predicts a potential further growth of this asset by another 40 percent.

According to expert data, Sterlite Tech is engaged in the production of optical fiber, cables, and connectivity products, ensuring its presence throughout the chain from glass to data centers. Nirmal Bang believes that the expected growth will be supported by high demand, improved revenues, and an increased share of high-margin connectivity products. Optical networks contribute about 95 percent of the company's revenue. The firm has set a target price for the stock at 1340 rupees and assigned it a 'Buy' rating.