India's oil & gas stocks rise after government tweaks tax on crude, diesel

Indraprastha Gas

06/03/2023 07:50

** Oil and gas index  .NIFOILGAS  rises over 2%; all 15
constituents log gains
    ** Rise comes after government raises windfall tax on crude
oil marginally and cuts tax on exports of diesel  urn:newsml:reuters.com:*:nL4N35C06K
    ** Government also scraps windfall tax of 1.5 rupees per
litre on aviation turbine fuel
    ** Mahanagar Gas  MGAS.NS , Adani Total Gas  ADAG.NS , GAIL
 GAIL.NS , Oil India  OILI.NS  and Indraprastha Gas  IGAS.NS  
are among the top gainers, in NIFOILGAS, rising between 3% and
6.2%
    ** Shares of upstream oil companies like ONGC  ONGC.NS ,
Mangalore Refinery  MRPL.NS , Chennai Petroleum  CHPC.NS  also
rise
    ** ONGC, which is up 2.6% as of 1:04 p.m. IST, is among the
top Nifty 50  .NSEI  gainers

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))