IT Stocks Fall on H-1B Visa Fee Concerns

New Delhi, Sep 23 (PTI) IT stocks fell for the second day in a row on Tuesday, amid concerns over the steep hike in US H-1B visa fees.

Hexaware Technologies tumbled 5.04 per cent, Mphasis declined 2.58 per cent, Mastek Ltd lost 2.40 per cent, Tech Mahindra fell by 2.07 per cent, HCL Tech dipped 0.74 per cent, Tata Consultancy Services (0.38 per cent), Wipro (0.26 per cent) and Infosys (0.16 per cent) on the BSE.

The BSE IT index declined 0.63 per cent to 34,769.38.

"FMCG, IT, and realty lagged, with IT feeling the impact of worries about rising US visa fees (H-1B) and their possible effect on earnings," Ajit Mishra, SVP - Research at Religare Broking Ltd, said.

IT stocks also dropped on Monday.

Last week, the Trump administration announced a one-time USD 100,000 fee on H-1B visas.

All new H-1B visa petitions submitted after September 21, including those for the FY2026 lottery, will require payment of USD 100,000.

Notably, Indian tech professionals account for the bulk of H-1Bs -- over 70 per cent.