RIL, ONGC, Chennai Petrochem rally up to 11% after govt cuts windfall taxes on fuel exports
New Delhi: Shares of oil refining companies soared in Wednesday’s trade after the Indian government cut windfall taxes on fuel exports on the back of falling global prices.
India eliminated a levy on gasoline exports and cut windfall taxes on other fuels less than three weeks after they were imposed, offering relief for the nation’s fuel exporters and top crude explorers.
