TCS, HCL Technologies, Infosys, Wipro, Tech Mahindra shares in focus today; here's why

IT stocks such as TCS, HCL Technologies, Infosys, Wipro and Tech Mahindra are in focus today after a US Federal court struck down President Donald Trump's move to impose an $100,000 fee on new H-1B visas for highly skilled foreign workers. US District Judge Leo Sorokin in Boston said the fee was an unlawful tax that the Congress had never authorised, news agency Reuters reported. Indian IT firms earn over 50% of their revenue from the US. This can turn sentiments in favour of around the IT sector in today's tarding session. In the last session, the weakness in the IT stocks led the Nifty IT index to fall 356 pts to 28,653.

Indian IT majors, including Tata Consultancy Services (TCS), Infosys, Wipro, and HCL Technologies, have traditionally ranked among the largest sponsors of H-1B visas in the United States. However, their reliance on the programme has declined sharply in recent years. Industry estimates suggest H-1B visa usage by these firms has dropped by nearly 40%, reflecting a combination of higher application and compliance costs, tighter regulatory scrutiny, and ongoing policy uncertainty in Washington. These challenges have also contributed to a growing number of skilled technology professionals returning to India as companies increasingly shift toward local hiring in the U.S.

The H-1B visa programme currently provides 65,000 visas each year under the regular cap, along with an additional 20,000 visas reserved for applicants holding advanced degrees from US institutions. These visas are typically granted for an initial period of up to three years and can be extended, allowing holders to work in the United States for as long as six years. In the past, employers sponsoring foreign workers under the H-1B programme generally incurred filing and processing costs ranging from about $2,000 to $5,000 per application.