India's technology outsourcing companies fell, on local media reports the United States had raised the cost of processing H-1B employment visas.
Shares of Infosys dipped over 2% to touch the monthly low of Rs2769.95 and Shares of Tata Consultancy Services ( TCS) slipped nearly 2%, touching the weekly low of Rs1163.15.
The higher costs could hit profit margins at India's $100 billion technology and business process outsourcing industry, which employs 107,000 people in the United States, of which near a third are Americans.
Indian companies also send local employees to India, typically through the H-1B visas.
....more info
Shares of Infosys dipped over 2% to touch the monthly low of Rs2769.95 and Shares of Tata Consultancy Services ( TCS) slipped nearly 2%, touching the weekly low of Rs1163.15.
The higher costs could hit profit margins at India's $100 billion technology and business process outsourcing industry, which employs 107,000 people in the United States, of which near a third are Americans.
Indian companies also send local employees to India, typically through the H-1B visas.
....more info