Infosys shares tumble amid U.S. labor department investigations and PERM suspension

On October 23, 2026 Infosys Limited saw its stock plunge after the U.S. Labor Department announced criminal investigations into major IT outsourcing firms and suspended Infosys from the PERM program, part of a wider H‑1B visa crackdown. The drop was reported as 7.38% in one source and 6.22% in another. The company posted annual revenue of $19.28 billion, quarterly revenue of about $5.0 billion, a pretax margin near 21%, and held more than $2.3 billion in cash.

The company warned that loss of PERM access could raise wage and compliance costs, potentially squeezing its roughly 21% pretax margin. Analysts note that higher labor costs may pressure margins, adding downside risk for investors.

  • Conflicting reported percentage drop: 7.38% vs 6.22%.

Sources