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)
- Tweet this
- Share this
- Digg this
- Israel intensifies Gaza assault, Egyptians revise truce plan
- Obama says strains over Ukraine not leading to new Cold War with Russia
- UPDATE 2-U.S. Senate shortens transport extension, sets up clash with House
- Chinese police shoot dead dozens after attack in Xinjiang
- In rare move, Canada accuses Chinese of trying to hack govt network
Piramal Enterprises has tied up with Dutch pension fund APG Asset Management to invest $1 billion in Indian infrastructure companies over three years, in a move that would help indebted firms access funds to complete projects. Full Article
Finmeccanica settles with Italy prosecutors to end Indian chopper deal probe. Full Article