IOCL Q4 profit soars 52% to ₹10,841 cr; stock rises
Shares of Indian Oil Corporation Ltd rose as much as 4% to ₹87.65 apiece on the NSE
Shares of Indian Oil Corporation Ltd rose as much as 4% to ₹87.65 apiece on the NSE
India's windfall tax on exports of locally-produced oil has helped reduce the state-owned refining and marketing companies' marketing losses, says Moody's.
The windfall tax on domestically produced crude oil has been halved to ₹4,900 per tonne from ₹10,200 per tonne, whereas the tax of export of diesel has been slashed to ₹8 per litre.