Infosys receives tax penalty demand of about INR 1.14 crore
INFY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.7 pts more than Nifty 100 and 2.8 pts more than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Infosys received a demand from the Assistant Commissioner of Central Tax for a total penalty of INR 1,13,59,395, about INR 1.14 crore. It relates to alleged non-realisation of export proceeds after invoices were written off in FY 2018-19 through FY 2022-23. Infosys says this has no material impact on its financials or operations.
Infosys reports no material financial or operational impact, so any near-term effect on the share price is likely limited.