IT stocks tumble on US H-1B visa fee hike concerns; combined market valuation erodes by Rs 83,994 crore

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IT stocks dropped on Monday, with Infobeans Technologies tumbling nearly 9% and Hexaware falling 7%, amid concerns over the steep hike in US H-1B visa fees.

Shares of Infobeans Technologies fell 8.93%, Hexaware Technologies tumbled 7.08%, LTI Mindtree tanked 4.54%, Persistent Systems dropped 4.19%, and Tech Mahindra declined 3.20% on the BSE.

The stock of Tata Consultancy Services slipped 3.02%, Infosys edged lower by 2.61%, Wipro declined 2.25%, and HCL Tech went down 1.84%.

Together, these firms faced a combined erosion of Rs 83,994.45 crore from…



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IT stocks tumble on US H-1B visa fee hike concerns; combined market valuation erodes by Rs 83,994 crore



IT stocks dropped on Monday, with Infobeans Technologies tumbling nearly 9% and Hexaware falling 7%, amid concerns over the steep hike in US H-1B visa fees.

Shares of Infobeans Technologies fell 8.93%, Hexaware Technologies tumbled 7.08%, LTI Mindtree tanked 4.54%, Persistent Systems dropped 4.19%, and Tech Mahindra declined 3.20% on the BSE.

The stock of Tata Consultancy Services slipped 3.02%, Infosys edged lower by 2.61%, Wipro declined 2.25%, and HCL Tech went down 1.84%.

Together, these firms faced a combined erosion of Rs 83,994.45 crore from…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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