Infosys, TCS drop on U.S. visa reports

Thu Mar 29, 2012 10:13pm IST

Indian engineers attend to calls from abroad inside a call center in Gurgaon on the outskirts of New Delhi December 3, 2003. REUTERS/Kamal Kishore/Files

Indian engineers attend to calls from abroad inside a call center in Gurgaon on the outskirts of New Delhi December 3, 2003.

Credit: Reuters/Kamal Kishore/Files

Related Topics

Stocks

   

REUTERS - India's technology outsourcing companies fell on Thursday on local media reports the United States 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 Americans.

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

Infosys (INFY.NS) and Tata Consultancy Services (TCS.NS) each fell 1.6 percent.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)

FILED UNDER:

Fast-tracking Projects

REUTERS SHOWCASE

Oil Prices

Oil Prices

Brent edges further above $61 as companies cut upstream investments.  Full Article 

GST Bill

GST Bill

Cabinet clears bill for nationwide goods and services tax.  Full Article 

Aviation Sector

Aviation Sector

Breakingviews: SpiceJet rescue is no fix for India aviation woes.  Full Article 

Global Economy

Global Economy

Fed confident on U.S. growth, opens door wider to rate hike.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Banking Sector

Banking Sector

Japan banks to bulk up India presence on improving ties   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage