Business news · Policy & Regulation · 04 Oct 2026
US immigration data cited in the report show Infosys' H-1B registrations for fiscal 2027 fell to 759 from 8,886, and those of TCS to 284 from 5,955; HCL America, Tech Mahindra and Wipro recorded declines of roughly 85% to 96%. Total registrations across all employers dropped from a peak of 780,884 for fiscal 2024 to about 358,000 for fiscal 2026. The fall follows the $100,000 payment required for new petitions since September 2025 and a September 2026 executive order adding scrutiny of employers that recently laid off American workers.
Indian IT exporters long staffed US client sites with visa holders from India. Replacing them with local hires raises on-site wage costs, which presses on operating margins unless more work moves offshore or is automated. The data also show that the companies' exposure to further visa rule changes is now much smaller than it was. Indians made up 69.9% of approved H-1B beneficiaries in fiscal 2025, so the wider effect falls on Indian engineers employed by US technology companies as well.
Reported by Great Andhra — “Indian IT Firms Cut H-1B Reliance, Shift Toward Local Hiring in US” ↗ on 04 Oct 2026.
NSE stocks, from the last close on or before 04 Oct 2026 to the close on 16 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Information Technology | 40 | +7.1% | 32 of 40 | +7.4 pts |
| All tracked stocks | 804 | -0.3% | 383 of 804 | — |
| Company | Then | Now | Move |
|---|---|---|---|
| HCL Technologies Ltd. HCLTECH | ₹1,243.1 | ₹1,380 | +11.0% |
| Infosys Ltd. INFY | ₹1,035 | ₹1,161.2 | +12.2% |
| Tata Consultancy Services Ltd. TCS | ₹2,075 | ₹2,465 | +18.8% |
| Tech Mahindra Ltd. TECHM | ₹1,533 | ₹1,790 | +16.8% |
| Wipro Ltd. WIPRO | ₹159.35 | ₹184.4 | +15.7% |
Official series on 04 Oct 2026 or the last day before it, and the latest observation.
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