2 hrs ago
IT Shares Fall as Indian Market Rises Amid Visa Concerns
Indian technology company shares fell even though the wider stock market was rising.
Infosys, TCS, Tech Mahindra, and Wipro all recorded declines.
The BSE IT and Nifty IT indexes also moved lower.
The Sensex and Nifty, however, gained in early trading.
One concern is that the United States extended a fee on new H-1B visa applications.
The US also ordered closer checks of companies that dismiss American workers while hiring foreign workers.
These rules could make it more expensive and complicated for technology companies to hire specialized workers from abroad.
Nasscom says Indian IT companies have already been hiring more workers and building more operations in the United States.
Infosys shares fell 1.73% to Rs 1,031.95, while TCS declined 1.25% to Rs 2,075.50.
Tech Mahindra dropped 0.39% and Wipro declined 1.59% during the session.
The BSE IT index fell 0.74% and the Nifty IT index lost 379 points.
The declines came as the Sensex rose 445 points and the Nifty gained 48 points in early trading.
Investors faced concerns over extended H-1B visa fees and increased scrutiny of companies reducing their US workforces.
- Who
- Infosys, Tata Consultancy Services, Tech Mahindra, Wipro, Donald Trump, and Nasscom are central to the report.
- What
- Major Indian IT shares and IT indexes declined while broader Indian market indexes rose, amid concerns about US H-1B visa measures.
- Where
- Indian stock exchanges and the United States H-1B visa system.
- When
- Monday, during early trading and the current session; the article does not provide a calendar date.
- Why
- The report links the IT-sector weakness to an extended H-1B visa fee and tighter scrutiny of companies hiring foreign workers while reducing US staff.
US Worker Protection
Technology Industry Concerns
Visa fees and application scrutiny
US Worker Protection
The Trump administration extended the H-1B fee and ordered closer scrutiny of applications from companies laying off or planning to cut American jobs.
Technology Industry Concerns
The measures could increase compliance requirements, hiring costs, and complexity for IT services companies seeking specialized foreign talent.
Reliance on foreign workers
US Worker Protection
The policy approach places greater emphasis on protecting similarly placed US workers when companies use the H-1B program.
Technology Industry Concerns
Nasscom says Indian IT companies have already expanded US hiring and delivery capabilities, reducing their dependence on overseas workers while still needing the program for specialized skills.
Key facts
- Infosys move
- Down 1.73% to Rs 1,031.95; market capitalization was Rs 4.19 lakh crore.
- TCS move
- Down 1.25% to Rs 2,075.50; market capitalization was Rs 7.61 lakh crore.
- Other IT shares
- Tech Mahindra fell 0.39% to Rs 1,524.60, while Wipro fell 1.59% to Rs 163.35.
- IT indexes
- The BSE IT index fell 206 points, or 0.74%, and the Nifty IT index lost 379 points.
- Broader market
- The Sensex rose 445 points to 74,740 and the Nifty rose 48 points to 23,394 in early trading.
- H-1B registration impact
- Donald Trump said the 2025 fee led to a 92% decline in registrations from large IT outsourcing companies.
- Industry response
- Nasscom urged the United States to reassess the H-1B program and said Indian IT companies had reduced reliance on overseas workers.
Sources
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