Trump's H-1B visa fee hikes hits IT stocks: TCS, Wipro & Infosys shares tumble
Indian IT stocks plummeted as the US government's unprecedented H-1B visa fee hike of $100,000 rattled the $283 billion industry. The Nifty IT index plunged over 3%, with Tech Mahindra, Persistent Systems, and other mid-tier firms taking the biggest hit. Investors are concerned about rising costs and squeezed margins amidst a global demand slowdown, potentially derailing any recovery.
Indian IT stocks plummeted as the US government's unprecedented H-1B visa fee hike of $100,000 rattled the $283 billion industry. The Nifty IT index plunged over 3%, with Tech Mahindra, Persistent Systems, and other mid-tier firms taking the biggest hit. Investors are concerned about rising costs and squeezed margins amidst a global demand slowdown, potentially derailing any recovery.
