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In recent days, petrol and diesel prices have gone up by around Rs 7.5 per litre, increasing daily costs for consumers. This has once again sparked a familiar debate, are oil marketing companies (OMCs) making windfall gains amid the Middle East crisis?At the centre of this discussion is a headline number, a combined profit of…
The government has imposed a windfall gains tax of Rs 3 per litre on petrol exports with effect from May 16, PTI reported. The move comes amid elevated global crude oil prices and ongoing volatility in international energy markets following the Middle East conflict.“Govt levies Special Additional Excise Duty of Rs 3 per litre (SAED-…
The windfall tax was introduced to ensure that adequate domestic supplies of petroleum products remain available. (AI image) The windfall tax on exports of diesel and aviation turbine fuel (ATF) has been lowered effective May 1, 2026. The excise duty on petrol and diesel sold in the domestic market will remain unchanged. The levy on…
The Middle East conflict, now in its sixth week, continues to send shockwaves across the world. From energy supply disruptions to rising fuel prices, several countries are being forced into emergency measures such as work-from-home policies and cost hikes. Meanwhile, the Gulf region is witnessing a split oil reality! While for some producers, soaring crude…
Shares of Reliance Industries Ltd (RIL) fell more than 4% on Friday after the government reintroduced windfall taxes on diesel and aviation turbine fuel (ATF) exports, eroding over Rs 82,000 crore from the company’s market capitalisation in intra-day trade.At 3:30 pm, shares of Reliance Industries Ltd were trading at Rs 1,350.80, down Rs 62.30 or…
Auqib Nabi had a brilliant season for Jammu & Kashmir and was on the radar of multiple franchises. Auqib Nabi’s rise has been nothing short of inspirational. Once borrowing spikes for trials, the 29-year-old fast bowler has now bagged an Indian Premier League (IPL) contract worth ₹8.40 crore at the mini-auction held in Abu Dhabi…
Team India (Pic credit: BCCI) NEW DELHI: In a grand gesture celebrating India’s greatest moment in women’s cricket, the Board of Control for Cricket in India (BCCI) has announced a record-breaking Rs 51 crore cash reward for the triumphant Indian team that lifted the ICC Women’s World Cup 2025 on Sunday in Navi Mumbai. The…
The International Finance Corporation (IFC) is poised to book hefty returns from Tata Capital’s upcoming $2 billion (Rs 17,000 crore) initial public offering, as the World Bank Group arm looks to partially exit its investment in the non-banking finance company.According to the updated draft red herring prospectus (DRHP), IFC will offload 3.58 crore shares in…
