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US Visa Fee Hike and Pharma Tariffs Drive Rs 2.99 Lakh Crore Weekly Loss for India’s Top 10

A sharp H‑1B visa fee hike triggered risk aversion, punishing IT stocks, pushing the rupee to a record low.

Overview

  • The Sensex fell 2,199.77 points, or 2.66%, for the week as investors trimmed risk.
  • TCS recorded the largest decline, shedding Rs 97,597.91 crore to Rs 10,49,281.56 crore, while Infosys lost Rs 38,095.78 crore.
  • Banking leaders retreated as HDFC Bank fell Rs 33,032.97 crore, ICICI Bank dropped Rs 29,646.78 crore, and SBI slipped Rs 4,846.07 crore.
  • Ponmudi R of Enrich Money cited a steep H‑1B fee surge and 100% US tariffs on branded and patented pharmaceutical imports as key drivers that also pressured the rupee.
  • Reliance Industries remained the most valuable company despite broad declines across IT, pharma and financials.