H-1B visa changes sink Indian IT: TCS, Infosys lose ₹51,000cr
Business
Big shake-up for Indian IT: new H-1B visa rules have caused TCS and Infosys shares to drop by 3% each, wiping out over ₹51,000 crore from their combined market value.
The entire Nifty IT index took a hit too, with all listed companies except Oracle Financial Services seeing losses between 1% and 4%.
Mid-sized firms say rule changes won't affect them much
Other major firms like LTIMindtree, HCLTech, Wipro, and Tech Mahindra also lost between ₹3,000 crore and ₹8,000 crore in value.
While some mid-sized companies say these rule changes won't affect them much, analysts are split—some warn of lower profits ahead for Indian IT giants, while others see this as a chance for long-term investors to buy in at lower prices.