Oil stocks rally; BPCL, HPCL, IOC hit 52-week highs
Among other state-owned OMCs, Oil India, GAIL (India), ONGC shares surged up to 4% amid strong volume trade.
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Oil stocks up as govt cuts windfall tax on petroleum cude to zero
Levy on petrol, diesel, and aviation turbine fuel has been kept unchanged at zero
Govt extends restrictions on export of petrol, diesel
Refiners must sell at least 50% of annual volume of petrol exports, 30% of diesel exports in India; move to ensure availability of refined fuel in India
Oil stocks rise on Kirit Parikh panel recommendations; IGL, IOC gain up to 4%
The S&P BSE Oil & Gas index rose as much as 1% to hit a 52-week high of 20,650 levels, led by IGL, IOC, Adani Total Gas, Reliance Industries, and GAIL (India).
Oil stocks trade mixed after govt hikes windfall tax on domestic crude
The windfall tax on domestically produced crude oil has been hiked to ₹10,200 per tonne from ₹9,500 per tonne, whereas the tax of export of diesel has been slashed to ₹10.5 per litre.
Govt cuts windfall tax on crude; here’s how oil stocks reacted
Shares of ONGC, HPCL, and IOC rose up to 1%, while Adani Total Gas, Reliance Industries, and BPCL fell up to 1% on the BSE.
Oil stocks up after OPEC+ agrees on deep crude output cut
Crude oil rises to nearly a three-week high; key oils stocks trade in positive territory as OPEC+ decides to cut output by 2 mn barrels/day.
Adani Wilmar, Patanjali Foods hit upper circuit; here’s why
Adani Wilmar reclaims ₹1 lakh crore m-cap; Patanjali Foods crosses ₹50,000 cr market cap
Windfall tax on diesel, ATF cut; oil stocks rise
The Centre has reduced tax on domestically-produced crude oil to ₹10,500 per tonne from ₹13,300 per tonne; tax levy on diesel lowered to ₹10 per litre.
Oil stocks Reliance, ONGC, Adani Gas, IOC fall up to 5%; here’s why
Shares of ONGC, Reliance, Adani Total Gas, Indraprastha Gas, CPCL, and MRPL saw selling pressure after the govt revised the windfall tax on crude oil
