Infosys said it received income-tax assessment orders and expects a cumulative refund of ₹1,745 crore (including interest). Traders are treating the disclosure as a positive cash-flow catalyst, lifting the ADR as investors re-price near-term balance-sheet strength and potential capital flexibility. (infosys.com)

A confirmed refund expectation can tighten uncertainty around cash timing and one-off items, which matters for large-cap IT services names where revenue growth can be incremental and sentiment is often driven by cash generation and capital allocation. With the ADR trading near the mid-teens, incremental positives that improve cash visibility can have an outsized impact on daily price action. (infosys.com)

Key swing factors are (1) the timing of actual receipt versus expectation, (2) how the item is reflected in quarterly financials, and (3) any follow-on disclosures that clarify whether there are offsets, procedural steps, or appeals. Investors will also watch whether management commentary links the cash benefit to shareholder returns or reinvestment priorities. (infosys.com)