Indian IT stocks fall on US visa concerns

LTM

22/09/2025 09:30

Updates

** India's Nifty IT index .NIFTYIT falls 2.89% to 35,521.85 points, top sectoral loser

** U.S. President Donald Trump imposed a $100,000 fee on new H-1B visa applications; last year, 71% of approved H-1B beneficiaries were Indians

** 9 of the 10 members of the index fall between 1% and 5%

** CLSA says move to have a "limited negative impact" on Indian IT firms

** Sees up to a 6% hit to FY27 earnings of IT firms, assuming the entire burden of fresh applications is borne by them and number of applications is similar to last three years' average

** CLSA says second-heaviest stock Tata Consultancy Services TCS.NS to see the lowest impact at 1% hit to FY27 earnings

** TCS down 3.03%, heaviest stock Infosys INFY.NS down 2.8%

** Mphasis MBFL.NS sheds 4.5%, Persistent Systems PERS.NS and LTIMindtree LTIM.NS down ~4%

** CLSA sees highest impact to LTIM and PERS, with 6% hit to FY27 earnings

** NIFTYIT set for worst day since early-April when Trump's reciprocal tariffs triggered a broad-based global sell-off

 (Reporting by Vijay Malkar)

 ((VijayDattaram.Malkar@thomsonreuters.com;))