IT stocks tumble on US H-1B visa fee hike concerns; combined market valuation erodes by Rs 83,994 crore
IT stocks fell sharply on Monday due to concerns over a steep $100,000 hike in US H-1B visa fees. Wipro declined 2.25%, Infosys fell 2.61%, and TCS slipped 3.02%. The combined market value of top IT firms fell by Rs 83,994 crore, dragging the BSE IT index down 2.73%.
IT stocks fell sharply on Monday due to concerns over a steep $100,000 hike in US H-1B visa fees. Wipro declined 2.25%, Infosys fell 2.61%, and TCS slipped 3.02%. The combined market value of top IT firms fell by Rs 83,994 crore, dragging the BSE IT index down 2.73%.
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