Infosys, Wipro ADRs decline up to 4% amid Trump’s proposal for $100,000 annual H-1B visa fee

American Depositary Receipts (ADRs) of major Indian IT firms Infosys and Wipro declined by up to 4% on Friday following the Trump administration’s plan to impose a $100,000 annual fee per H-1B visa, a move that could significantly impact companies reliant on foreign skilled workers.

During intraday trade, the Infosys ADR fell as much as 7.5% to $16.24, to finally end the day 3.14% lower at $16.97, meanwhile, Wipro ADR fell 3.5% to settle at $2.76.