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Infosys, TCS drop on US visa reports

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Reuters Mumbai

Technology giants Infosys and TCS fell 1.6% each today on media reports the US had raised the cost of processing H-1B employment visas.

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 Indians.

Indian companies also send local employees to India, typically through the H-1B visas.

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First Published: Mar 29 2012 | 11:20 AM IST

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