The shares of Reliance Industries and stateowned exploration firm ONGC and Oil India surged as the government reduced the windfall profit tax levied on domestically-produced crude oil as well as on the export of diesel and ATF, in line with softening international oil prices.
The levy on crude oil has been cut to Rs 1,900 per tonne from Rs 2,100 per tonne, the order dated January 16 said. The RIL stock closed at Rs 2,478.55, up Rs 33.85, or 1.38 per cent, over Monday’s close. The ONGC scrip touched a high of Rs 149 before closing at Rs 147.85, up Rs 0.25 or 0.17 per cent.
