Here is how Infosys (INFY) and Magnite (MGNI) have performed compared to their sector so far this year.

NEW DELHI (Reuters) -The Indian government is not considering any relaxation in the tax demand it sent to Infosys last month, according to a government source. The tax demand is in accordance to the good and services tax rules and the country's second-largest IT services firm has sought ten days to submit its response after meeting tax officials, the source said. Shares of Infosys, which were up 1.6% before the news amid a broader market rebound, briefly trimmed gains to about 0.3% after the n...

Infosys Receives Tax Notice, Asserts Compliance With Regulations

Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced an expanded strategic collaboration with ServiceNow to provide end-to-end managed services, leveraging AI capabilities of the Now Platform and the Infosys Enterprise Service Management Café (ESM Café) for enterprise business transformation.

Indian authorities may issue notices soon to more major IT services firms in an investigation of alleged tax evasion related to work done by their overseas offices, a government source said on Thursday, a day after Infosys was slapped with a $4 billion tax demand. In serving its highest-ever tax demand on Infosys, the government accused India's second-largest tech services company of evading taxes and sought 320 billion rupees ($3.8 billion), or almost all its revenue for the quarter ended June...

BENGALURU (Reuters) -Indian IT services company Infosys has received a tax demand of about $4 billion from the country's tax authority, a tax authority document seen by Reuters showed. The demand relates to services received by Infosys from its overseas branches in various foreign countries and these so-called "import of services" are liable to tax, the document from the Indian tax authorities showed. Infosys said in a statement it had received the notice from Director General of Goods and Ser...

Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, in collaboration with MIT Technology Review Insights, today announced the release of a new report: Reimagining Cloud Strategy for AI-first Enterprises. The report analyzed 500 global industry leaders with at least $500M in revenue across sectors to understand their organization's cloud and data readiness as they prepare to launch AI initiatives at scale.

Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced its collaboration with TDC Net, a Danish digital infrastructure and connectivity provider, to help them transform from a traditional infrastructure company to a leading customer-centric technology company. The collaboration aims to modernize TDC Net's IT infrastructure, improve their customer experience, and help them optimize IT and operational service costs.

The overall stock market has been reeling over the last week or so. The S&P 500 index and NASDAQ have fallen by 4% and 6%, respectively, since July 16 due to uncertainty regarding the future of artificial intelligence. This has caused major tech sell-offs among oversold giants such as Tesla (NASDAQ:TSLA), Alphabet (NASDAQ:GOOGL) and Nvidia (NASDAQ:NVDA). Investors are also buying into small and mid-cap stocks in hopes of gains following interest rate cuts expected this year. Even though many inv

Here is how Micron (MU) and Infosys (INFY) have performed compared to their sector so far this year.