{"id":502436,"date":"2022-07-02T11:17:03","date_gmt":"2022-07-02T05:47:03","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=502436"},"modified":"2022-07-02T11:17:03","modified_gmt":"2022-07-02T05:47:03","slug":"reliance-and-ongc-investors-lose-rs-1-5-lakh-crore-on-oil-export-tax","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/reliance-and-ongc-investors-lose-rs-1-5-lakh-crore-on-oil-export-tax\/","title":{"rendered":"Reliance and ONGC investors lose Rs 1.5 lakh crore on oil export tax"},"content":{"rendered":"<p>Billionaire Mukesh Ambani-led India&#8217;s most valuable company Reliance Industries NSE -7.20 % (RIL NSE -7.20 %), today saw Rs 1.26 lakh crore worth of market cap erosion after the government slapped an export tax on fuel and windfall tax on domestic crude. The stock of oil explorer ONGC NSE -13.53 % eroded Rs 25,800 crore worth of investor wealth.<\/p>\n<p>RIL shares nosedived 9 per cent to hit the day&#8217;s low at Rs 2,365. The stock, however, recovered later to end the day at Rs 2,406 but was still down 7.3 per cent from Thursday&#8217;s closing price. For Reliance, it was the stock&#8217;s worst day since November 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire Mukesh Ambani-led India&#8217;s most valuable company Reliance Industries NSE -7.20 % (RIL NSE -7.20 %), today saw Rs 1.26 lakh crore worth of market cap erosion after the government slapped an export tax on fuel and windfall tax on domestic crude. The stock of oil explorer ONGC NSE -13.53 % eroded Rs 25,800 crore worth of investor wealth. RIL shares nosedived 9 per cent to hit the day&#8217;s low at Rs 2,365. The stock, however, recovered later to end the day at Rs 2,406 but was still down 7.3 per cent from Thursday&#8217;s closing price. For Reliance, it was [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-502436","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/502436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=502436"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/502436\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=502436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=502436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=502436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}