{"id":503575,"date":"2022-07-06T12:49:01","date_gmt":"2022-07-06T07:19:01","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=503575"},"modified":"2022-07-06T12:49:01","modified_gmt":"2022-07-06T07:19:01","slug":"steel-oil-gas-stocks-see-market-cap-erode-by-rs-2-6-lakh-cr-on-new-taxes","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/steel-oil-gas-stocks-see-market-cap-erode-by-rs-2-6-lakh-cr-on-new-taxes\/","title":{"rendered":"Steel, oil &amp; gas stocks see market cap erode by Rs 2.6 lakh cr on new taxes"},"content":{"rendered":"<p>Mumbai: A whopping \u20b92.6 lakh crore market capitalisation has been wiped out from steel and oil &amp; gas stocks after the government imposed new taxes on these two sectors. The new taxes will impact corporate earnings and may also raise a fair degree of concern among investors about the overall investment climate in the country, analysts warned.<\/p>\n<p>&#8220;The recent imposition of new taxes or increase in tax rates in a few sectors may help the government garner additional revenues and fight inflation, but it will also hurt corporate profits and market capitalisation and India&#8217;s overall investment climate,&#8221; said Sanjeev Prasad, co-head at Kotak Institutional Equities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai: A whopping \u20b92.6 lakh crore market capitalisation has been wiped out from steel and oil &amp; gas stocks after the government imposed new taxes on these two sectors. The new taxes will impact corporate earnings and may also raise a fair degree of concern among investors about the overall investment climate in the country, analysts warned. &#8220;The recent imposition of new taxes or increase in tax rates in a few sectors may help the government garner additional revenues and fight inflation, but it will also hurt corporate profits and market capitalisation and India&#8217;s overall investment climate,&#8221; said Sanjeev Prasad, [&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-503575","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\/503575","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=503575"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/503575\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=503575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=503575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=503575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}