Bad news for Narayana Murthy’s Infosys, Noel Tata’s TCS, Azim Premji’s Wipro, as IT stocks crashed up to 6% after Donald Trump’s…
24htopnews | September 22, 2025 2:06 PM CST
IT stocks tumbled on Monday after US President Donald Trump signed a proclamation increasing the H-1B visa fee to an unprecedented $100000 annually in a fresh move to tighten immigration norms. The Nifty IT index slipped over 3.5% in intra-day trade on September 22 compared with a 0.5% drop in the benchmark Nifty. The executive order raised the H-1B visa application fee from $1000 to $100000 per applicant — a 100-fold jump applicable to new applications. All Nifty IT constituents were under pressure with Tech Mahindra plunging 5.8% followed by Mphasis and Persistent Systems which declined over 5% each. TCS Wipro HCL Tech Infosys Coforge and LTIMindtree shed between 3–5% while Oracle Financial Services slipped 1.4%.
READ NEXT
