Nasscom and Indian IT services leaders are set to meet US President Donald Trump to lobby against the proposed changes to the H1B visa program. A bill introduced in the Congress, which Trump is said to support, plans to clamp down on the program by doubling the salary paid to H-1B visa holders. US workers in the tech industry have complained that H1B allows US companies to outsource work to H1B visa holders at much lower costs. Indian IT leaders and Nasscom however, had said that H1B is addressing a labour shortage in he US in this sector. 

The special CBI court has dropped all charges against the Maran brothers in the 2G case, giving Sun TV a boost in the stock markets today, with the stock trading up as much as 20% as of this writing. Sun TV has long been surpassing industry averages, in P/E and return on assets, but the legal issues had held the stock price down.  However the fate of the merger deal between Reliance Communications and Aircel still depends on the Supreme Court order due today, with that case being separately dealt from the Maran brothers case.

Stock in spotlight: Dr. Lal Pathlabs, which fell sharply yesterday after its Q3 results announcement showed a decline in net profit compared to last year's quarter. A closer look however shows that the decline is due to an ESOP reversal in last year's Q3 which inflated previous year numbers, and reported profits before taxes and sales growth look strong. 

Photo of the day: A man and his camel take part in a camel-decoration competition in Nagaur, Rajasthan. Himanshu Sharma/Reuters