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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

India-China Ties

REUTERS SHOWCASE

India-US Diplomacy

India-US Diplomacy

Obama to nominate Indian-American Richard Verma as India ambassador - congressional source.  Full Article 

GMR in Nepal

GMR in Nepal

Nepal clears India’s GMR plan for $1.4 bln hydroelectric plant.  Full Article 

LIC on Markets

LIC on Markets

LIC chairman bullish on Indian markets  Full Article 

India Rains

India Rains

Monsoon rains weaken as late retreat looms.  Full Article 

Infosys-Huawei

Infosys-Huawei

Infosys partners with China's Huawei for cloud-based services  Full Article 

Gold Outlook

Gold Outlook

Gold imports seen up, premiums likely to double on festive buying  Full Article 

Trade Dispute

Trade Dispute

U.S. to press India on trade row during Modi's Washington visit  Full Article 

Reuters India Mobile

Reuters India Mobile

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