Govt Cuts Windfall Tax on Crude Petroleum
The tax is levied in the form of Special Additional Excise Duty (SAED).
Source: news18.com
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Oil India, ONGC, RIL shares rise up to 4% after govt slashes windfall tax, crude oil gains
Analysts don’t see an immediate impact of the windfall tax cut on oil companies.
Source: moneycontrol.com
petroleum crude tax: India cuts windfall tax on petroleum crude
The Indian government will cut the windfall tax on petroleum crude to 6,700 rupees per metric ton from 7,100 rupees starting on Saturday, according to a government notification issued on Friday.
Source: indiatimes.com
FPIs buy ₹3,747 cr equities in first week of FY24, last quarter results of FY23 to influence flows ahead
As per NSDL data, FPIs bought ₹3,747 crore in the equities so far in April, while they were net sellers in other market-related instruments..FPIs sold ₹1,667 crore in debt, meanwhile, outflows of ₹400 crore and ₹8 crore was recorded in debt-VRR and hybrid instruments.
Source: livemint.com
OMC stocks in red after windfall tax cut; Adani Total dips 4%, BPCL, Indian Oil tumble. What to expect?
Sumit Singhania, Partner, Deloitte India said, withdrawal of windfall tax, except the reduced levy on diesel, is certainly a cheer for oil producing companies.
Source: livemint.com