New Delhi: Amid concerns over the steep hike in US H-1B visa fees, IT stocks – Tech Mahindra, LTI Mindtree, Persistent Systems, Hexaware Technologies and HCL Tech dropped on September 22, 2025, Monday. The BSE IT index traded lower by 2.20 per cent to 35,177.15.
The BSE Sensex declined 475.16 points to 82,151.07 in opening trade, while NSE Nifty dropped declined 88.95 points to 25,238.10. However, both the benchmarks recovered and were trading marginally lower. Nifty traded at 25,312.20, while the BSE barometer was at 82,378.66 at the time of writing this article.
IT Stocks decline
- Tech Mahindra shares dropped 6.45 per cent
- LTI Mindtree plunged 5.61 per cent
- Persistent Systems tumbled 5.51 per cent
- Hexaware Technologies fell 5.14 per cent
- HCL Tech went down per cent on the BSE.
- Infosys stock fell 3.91 per cent
- Wipro declined 3.51 per cent
- Tata Consultancy Services shares quoted 3.36 per cent lower.
“The Nifty-50 opened with a gap-down, as aggressive selling in frontline IT stocks—triggered by the steep hike in US H-1B visa fees—sparked profit-taking and caution after a strong three-week rally,” Ponmudi R, CEO of Enrich Money, told PTI. The firm is engaged in providing services related to online trading and wealth tech.
Following US President Donald Trump signing the proclamation hiking the fee on the visas used by companies to hire workers, the H-1B visa fee of USD 100,000 would be applicable only to new applicants, a White House official clarified.
H-1B clarification eases immediate worry
Reacting to the United States’ clarification on the H-1B visa fee hike, apex industry body – Nasscom said the official statement has helped address the immediate ambiguity, however, it increases the concerns about business continuity and uncertainty for H-1B holders who were outside the US.
The industry body said that the domestic IT firms Indian and India-centric companies operating in the US have significantly reduced their dependencies on H-1B visas and are focussing on hiring local workforce.
“Moreover, with the fee being applicable from 2026 onward, it gives companies time to further step up skilling programs in the US and enhance local hiring,” Nasscom said.
The industry is spending over USD 1 billion on local upskilling and hiring in the US, and the number of local hires has increased tremendously.
“The clarification makes clear that the measure will not affect current visa holders and will apply as a one-time fee only to fresh petitions. This has helped address the immediate ambiguity surrounding eligibility & timelines,” it said.
Indian tech professionals account for the bulk of H-1Bs, over 70 per cent plus.