IT Stocks Experienced Maximum Selling Pressure, Dragging Down the Browder indices on monday, after the US Administration Hiked the One-Time Fee for New Hb Visa Applications to $ 100,000, Triggering Concerning CONCERNS.
The nifty it index slumped Nearly 3 per cent, Marking Its Steepest Single-Day Fall in Recent Weeks. At 10.23 am, The Index was down 2.5 per cent to 35,651.25.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, Warned That The Market is Likely to Witness a Dulistic Behavior Today with the It Sector Getting IPACTED by The domestic consumption themes responding to the potential big boost to consumption coming from the lower gst rates kicking in from today.
Market Experts Noted That While Larger Firms May Be ABE ABSORB The Additional Expenses by Ramping Up Local Hiring and Increasing Offshore Delivery, Mid-Tiers COLYER COLYES COLLD FEEL A Deeper Squeeze. Adding to the pressure, Foreign Portfolio Investors Have Turned Net Sellers in the It Space Through SEPTEMBER, Intensifying the downward trend.
Nuvama Institutional Equites beLieves The Higher H-1B Fees to have Limited Impact on Indian It Companies. The companies shall mitigate this impact by Higher Nearshoring/offshoring and/Or Hiring Local Talent, It Added.
Heavyweight It Stocks Such as Tech mahindraInfosys, TCS, Wipro and HCL Technologies Lost Between 3-6 per cent in early trade. They continue to trade as the major laggards of nifty 50 components.
The sectorral drag also weighed on the broader market, pulling benchmark indices lower.
Sensex. After tanking 115 pts in early trade, nifty 50 dipped 6.65 pts or 0.03 per cent to 25,320.40. Sectorral Performance was mixed, with realty, banking, metal and oil & gas trading with marginal gain, while it index dragged the most.
Industry Players React
Following the announsement, coforge has disclosed to the stock exchanges that in FY25, US Contributed 53 per cent of the company’s revionue and it has 34,187 employees as of june 30, 2025.
“In FY25, The Company Filed only 65 new H-1-1B Visa Petitions, of which 63 WHICH 63 WERE Approved by Uscis. Over the year, the company has a conscious reviewed related to review Which is reflected in the low number of fresh petitions filed in fy25, ”it said.
Meanwhile, Mphasis Informed exchanges that the company does not foresee any significant impact on finals or operations giving low H1B Filing Volume as well as the relative Prolls of Overall Us Employees that AREN HON Visas.
Persistent Systems, in a Stock Exchange Filing, Said the Company does not expect any significant impact pertaining to the Executive Order on H1-B Visa Applications on Operations or Financials.
Firstsource has zero-dependency on the H-1B program for its operations. “The company’s talent strategy is founded on Strong Local Hiring and a globally distributed execution model, ensuring resilience and controluity irrespetive of immigration regulations.”
MPhasis, Persistent Systems, Coforge, Tech Mahindra and Ltimindree Depreciated Close to 4 per cent. There was no gainers of nifty it index at the time of writing.
Published on September 22, 2025