Infosys, TCS drop on U.S. visa reports
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)
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