A few mid-cap IT companies, such as Mphasis Ltd, Persistent Systems Ltd and Hexaware Technologies Ltd stated the move of US President Donald Trump raising H-1B visa fees won't hurt their operations. While Mphasis fell over 3%, Persistent tanked 4.5%, and Hexaware declined 8.5%. They added that their reliance on such visas is limited, stressing localisation and AI-led hiring.