Reliance, ONGC Shares Crash On Fuel Export And Windfall Tax

Portions of Reliance Industries and ONGC fell on Friday after the public authority forced trade charge on petroleum,

diesel and surprising duty on homegrown unrefined petroleum to support interior supplies.

Energy stocks fell as India forced unforeseen duties on oil organizations

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that had profited from rising worldwide unrefined petroleum costs and declared trade charges on gas, diesel and fly fuel.

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The Nifty Energy file fell north of 4% in its most keen fall since mid-May, with the main sub-list in the red on Friday.

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India's most significant organization, oil-to-retail goliath Reliance Industries Ltd (RIL), lost $19.35 billion in market

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RIL shares shut 7% lower at Rs 2,408.95 per share on the BSE file,

cutting down the market capitalization by Rs 1.25 lakh crore to around Rs 16.3 lakh crore.

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State-claimed oil maker ONGC on March 23, 2020 detailed its greatest fall since the pandemic, a fall of 13.4 percent.

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