RIL’s shares climb over 2%, ONGC jumps 4% after windfall tax cut
Shares of firms related to oil exploration and refineries were in heavy demand on Wednesday, with Reliance Industries and ONGC rallying after the government slashed windfall tax on petrol, diesel, jet fuel and crude oil.
Reliance Industries shares ended 2.47 per cent higher at Rs 2,501.40 apiece on the BSE. During the day, it jumped 4.25 per cent to Rs 2,545.05.
The market valuation of Reliance Industries advanced by Rs 40,516.96 crore to Rs 16,92,230.96 crore.
Shares of Oil and Natural Gas Corporation (ONGC) climbed 4 per cent to settle at Rs 132.55 apiece. During the day, it rallied 7 per cent to Rs 136.40.
Vedanta shares went higher by 6.22 per cent to Rs 253.45.
