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

IT Sector

REUTERS SHOWCASE

Telecom Sector

Telecom Sector

RIL telecoms unit in tower lease pact with ATC  Full Article 

Tracking Asia

Tracking Asia

Asian stocks subdued on Ukraine caution  Full Article 

Commodities

Commodities

Gold falls to 2-1/2 week low in thin trade  Full Article 

A Tough Sell

A Tough Sell

Insurance against a China financial crisis  Full Article 

Reuters India Mobile

Reuters India Mobile

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