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H-1B Fee Shock Weighs on Indian IT as Small-Cap Catalysts Drive Split Market

A steep U.S. H‑1B fee increase knocked IT sentiment, leaving index losses alongside pockets of small-cap gains.

Overview

  • Sensex fell 466 points to 82,159.97 and Nifty dropped 124 points to 25,202.35 on Sept 22 after a volatile session.
  • The Trump administration announced H‑1B application fees of $100,000 for new petitions, and large-cap IT names led declines with Tech Mahindra down 3.20%, TCS 3.02%, Infosys 2.61% and HCLTech 1.84%.
  • Mercury EV‑Tech said Ahmedabad NCLT cleared its merger with EV Nest, reported ICAT approval for its ‘MUSHAK EV’ goods carrier and opened new showrooms in Halol and Rajkot.
  • Osia Hyper Retail shares hit a 5% upper circuit after its EGM approved a higher authorised capital, a potential QIP of up to ₹200 crore and preferential convertible warrants.
  • RDB Infrastructure locked a 5% upper circuit on an MoU for a ₹225 crore solar EPC project, Apollo Micro Systems raised ₹18.02 crore via warrant conversions, Tiger Logistics rallied following its Sept 18 NSE listing and BSE queried Integrated Industries after >10% gains to which the company said it had no undisclosed information.