The market capitalisation of information technology (IT) stocks has taken a sharp hit after US President Donald Trump stunned the tech world by announcing up to a 50-fold increase in the cost of skilled worker permits, raising fees to $100,000. In the domestic market, the BSE IT index fell 7.34% to 33,327 on September 26, 2025, from 35,968 on September 19. By comparison, the benchmark BSE Sensex slipped 2.7% over the same period.

Among India’s IT majors, Tata Consultancy Services (TCS) led the decline with a drop of 8.5%, eroding Rs 97,598 crore in market value. Infosys, Wipro, HCL Technologies, Tech Mahindra, and LTI Mindtree also saw their valuations shrink by Rs 38,095 crore, Rs 21,437 crore, Rs 19,592 crore, Rs 14,350 crore, and Rs 13,364 crore, respectively.

Looking ahead to Q2FY26,

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