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December 2, 2024 New Delhi, India Windfall Tax Elimination: A Strategic Move The Union government has taken a significant step by completely removing the windfall tax on domestically produced crude oil and exports of aviation turbine fuel (ATF), petrol, and diesel. This decision comes after a comprehensive review of global oil market conditions and follows…
February 16, 2023 New Delhi, India India Adjusts Oil Taxes In response to the fluctuating global oil market, India’s Ministry of Finance has announced adjustments to oil taxes. Here’s a breakdown of the key changes: Marginally Raised Windfall Tax The windfall tax on the sale of domestic crude oil has been marginally increased to ₹3,300…
January 16, 2023 New Delhi, India Government Initiates Strategic Tax Adjustment To bolster the domestic energy sector, the Indian government has decided to reduce the windfall tax on domestically produced crude oil. The tax, previously set at Rs 2,300 per tonne, will now stand at Rs 1,700 per tonne, effective January 16. Understanding the Windfall…
December 19, 2023 New Delhi, India Indian Oil Stocks Rally Following Government’s Tax Cut and Global Crude Surge In a recent turn of events, Indian oil stocks witnessed a significant upswing as the government announced a reduction in the windfall profit tax on crude oil production and diesel exports. Here’s a closer look at the…
December 3, 2024 New Delhi, India USDINR Analysis The Indian Rupee (INR) traded weaker on Tuesday, grappling with multiple challenges after hitting a record low in the previous session. The local currency continues to face pressure from disappointing domestic macroeconomic data, persistent foreign fund outflows, and rising demand for the US Dollar (USD). US President-elect…
May 16, 2023 New Delhi, India Bullish Surge in Indian Stock Market The Indian stock market witnessed a remarkable surge on May 16, with both the Sensex and Nifty indices posting significant gains. This bullish momentum was fueled by a combination of factors, including positive corporate earnings outlook, global market optimism, and favorable government policies….
April 16, 2023 New Delhi, India Indian Stock Market Update: Sensex and Nifty Witness Declines The Indian stock market experienced a mixed performance today, with both the Sensex and Nifty indices recording declines. Here’s a breakdown of the key highlights from today’s trading session: Market Indices Drop: The BSE Sensex dropped by −456.10 points or…
February 17, 2023 New Delhi, India Indian Equity Market: A Week of Significant Movements The Indian equity market witnessed a week of substantial fluctuations, with several key players making headlines. Market Trends Investors remained vigilant, closely monitoring inflation data, Q3 results, and global cues. The market’s performance was influenced by a variety of factors, including…
February 16, 2023 New Delhi, India Indian Stock Market Performance The Indian stock market showed a positive trend on February 16, 2024. The NSE Nifty 50 index and the S&P BSE Sensex both settled 0.32% higher at 21,911 and 72,050 respectively. The market struggled for direction earlier in the day, but gains were consolidated in…
January 17, 2023 New Delhi, India Indian Rupee (INR) Continues Upside Trend Amid Strong US Dollar The Indian Rupee (INR) is facing upward pressure against the US Dollar (USD) as the greenback extends its strength. Traders are closely monitoring key developments, including the Reserve Bank of India’s (RBI) perspective and upcoming economic indicators. RBI Governor…
