IT Stocks Tumble on H-1B Visa Fee Shock

Indian IT stocks fell 2–5% on September 22, dragging the Nifty IT index down 3% as investors worried about profitability after the US imposed a $100,000 fee on new H-1B visas.

Tech Mahindra led losses, while brokerages warned of margin pressure and higher onsite wages. The sector faces weak earnings and US demand slowdown.