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%.
