Reliance Industries stock tumbles nearly 9%; ONGC tanks 11%
Shares of Reliance Industries tumbled nearly 9 per cent in morning trade on Friday after the government imposed an export tax on petrol, diesel and jet fuel (ATF).
The government on Friday slapped an export tax on petrol, diesel and jet fuel shipped overseas by firms like Reliance Industries Ltd, and imposed a windfall tax on crude oil produced locally by companies such as ONGC and Vedanta Ltd.
Shares of Reliance Industries fell 8.65 per cent to Rs 2,369.45 apiece on the BSE.
It was the biggest drag among the Sensex firms in morning trade.
