Why Indian IT stocks rose despite US green card crackdown?

Indian IT stocks, including TCS, Wipro, Infosys and HCLTech, rose on Friday despite the US suspending them from the PERM programme, a key step towards employment-based green cards. Experts said the impact would be limited as firms have reduced H-1B dependence, increased local US hiring and expanded offshore operations. Attractive valuations also boosted investor sentiment, experts said.