Shares of Tata Consultancy Services (TCS), Infosys and Larsen & Toubro Infotech (LTI) fall, with the decline linked to concerns around a U.S. H-1B fee proposal and additional broker downgrades. The move comes after the H-1B fee proposal clears a key review in the White House, according to reporting.
Alongside the policy development, Kotak Institutional Equities downgrades its ratings on TCS, Infosys and LTI, adding pressure on the stocks. One outlet frames the drop primarily as a market reaction to potential changes in the cost or process of hiring foreign workers under the H-1B programme. The downgrade element is presented as a separate, reinforcing factor that affects investor sentiment and expectations for near-term performance.
Overall, the coverage points to a combination of U.S. immigration policy uncertainty and changes in analyst stance contributing to the sell-off in major Indian IT services names.
