A look at the headlines in this sector right now:

  1. ‘First try to recruit US workers’, says new Bill seeking changes to H-1B visa policy: The proposed law introduced in the US Congress ‘explicitly prohibits’ replacing American employees with visa holders.
  2. Sensex sheds 274 points, Nifty down by 87 as markets fall ahead of Donald Trump’s swearing-in: Banking and information technology stocks faced selling pressure from investors, and Asian markets registered losses as well.
  3. Amazon US stops selling flip-flops with Mahatma Gandhi’s image to ‘respect Indian sentiments’: The e-commerce major had recently removed doormats bearing the Indian national flag after stern reaction from the External Affairs Ministry.
  4. Infosys ‘released’ around 9,000 staffers in 2016: The company’s human resources chief said the employees were trained in ‘special courses to help them with their new assignments’.
  5. Mahindra & Mahindra acquires 75.1% equity stake in Turkish farm equipment firm: The transaction is likely to be completed by April.      
  6. Cooperative banks cannot accept deposits under new tax scheme, says Centre: Under the Pradhan Mantri Garib Kalyan Yojana, black money holders can disclose their income by paying 50% tax and depositing one-fourth of it in a no-interest bearing deposit for four years.
  7. Mindtree shares plummet after firm posted 26.7% fall in net profit in third quarter: Factors like business fluctuations and poor profitability contributed to the loss.