Trump’s decree on H-1B Visa, IT sector suffered a thick loss from TCS to Infosys

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The shares of India’s IT companies are seeing a decline due to the increase in the H-1B Visas fee.

Shares of veteran IT companies like Tata Consultancy Services (TCS), Infosys, Wipro, HCL Technologies, Tech Mahindra and Koforge have fallen by 6 per cent in the morning trading on Monday, 22 September. US President Donald Trump on Friday increased the lump sum cost of H-1B visa to $ 1,00,000 (Rs 88 lakh), which has seen a lot of bad effects on the IT sector sentiment, indicating some improvements in recent times.

Tech Mahindra’s shares fell more than 5 per cent to a low -level day level of Rs 1,453, while Infosys and TCS shares on NSE came to Rs 1,482 and Rs 3,065 respectively. HCL Tech (the day -low level of Rs 1,415), Koforge (Rs 1,702) and AMPASIS (Rs 2,817) fell by more than 3 per cent. The Nifty IT index fell more than 3 percent to 35,482. Analysts estimate that the IT shares will be shocked immediately when the business resumes.

White House Explanation

SBI Securities Fundamental Research Head Sunny Aggarwal said in his statement to the media report that there may be a sudden decline in IT shares on Monday and it could open with a decline of 1-3 percent. The White House later clarified that a fee of $ 1,00,000 would only apply to the new H-1B applications and is not an annual fee. Existing visa holders will not have to face additional fees for renewable or retirement in the US. Aggarwal said that this would be limited to damage, but he warned that there was uncertainty about whether companies would be able to put this burden completely on the customers.

If we talk about damage in the stock market to IT companies, then the businessman has become enough. The market of the top 10 IT companies of the country has lost more than Rs 1.20 lakh crore. In which the largest impact has been on the country’s largest company TCS. The valuation of the company has reduced by about 39 thousand crores. At the same time, the valuation of Infosys has drowned more than 25 thousand crores.

How much damage was done to the major IT companies of the country

  1. TCS suffered a loss of Rs 38,633.7 crore during the business session. Due to which the company’s market cap was seen at Rs 11,08,023.80 crore. Whereas on Friday, the company’s market cap was Rs 11,46,657.50 crore.
  2. Infosys suffered a loss of Rs 25,024.41 crore during the business session. Due to which the company’s market cap was seen at Rs 6,14,728.28 crore. Whereas on Friday, the company’s market cap was Rs 6,39,752.69 crore.
  3. HCL Tech suffered a loss of Rs 16,892.57 crore during the business session. Due to which the company’s market cap was seen at Rs 3,81,310.65 crore. Whereas on Friday, the company’s market cap was Rs 3,98,203.22 crore.
  4. Tac Mahindra suffered a loss of Rs 9,825.01 crore during the business session. Due to which the company’s market cap was seen at Rs 1,42,398.97 crore. Whereas on Friday, the company’s market cap was Rs 1,52,223.98 crore.
  5. Wipro suffered a loss of Rs 9,435.21 crore during the business session. Due to which the company’s market cap was seen at Rs 2,59,048.94 crore. Whereas on Friday, the company’s market cap was Rs 2,68,484.15 crore.
  6. LTI Mindtree lost Rs 9,169.65 crore during the business session. Due to which the company’s market cap was seen at Rs 1,54,166.35 crore. Whereas on Friday, the company’s market cap was Rs 1,63,336.00 crore.
  7. The personal system suffered a loss of Rs 4,748.3 crore during the business session. Due to which the company’s market cap was seen at Rs 81,312.36 crore. Whereas on Friday, the company’s market cap was Rs 86,060.66 crore.
  8. Emphasis suffered a loss of Rs 3,375.23 crore during the business session. Due to which the company’s market cap was seen at Rs 56,920.39 crore. Whereas on Friday, the company’s market cap was Rs 53,545.16 crore.
  9. Koforge suffered a loss of Rs 3,045.96 crore during the business session. Due to which the company’s market cap was seen at Rs 57,008.37 crore. Whereas on Friday, the company’s market cap was Rs 60,054.33 crore.
  10. The Hapiest Mind suffered a loss of Rs 213.95 crore during the business session. Due to which the company’s market cap was seen at Rs 8,625.60 crore. Whereas on Friday, the company’s market cap was Rs 8,839.55 crore.

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